Romgaz: No syncopation in gas supply this winter

Romgaz is ready for the coming winter, with more than 3 billion cubic meters of gas in storage, and will meet all its obligations without any problems, Romgaz director general Razvan Popescu said on Friday."If we talk about deposits, they are at an extremely high level. We have over 3 billion cubic meters in storage and we are certainly ready for the coming winter. In terms of a safety net, Romgaz still has a natural gas purchase contract with Socar and if we have, let's say, but we don't anticipate obviously, a need for gas, it can be accessed. So, as in the previous year, Romgaz will continue to honour all its obligations. A large part, namely 86% of the production, is allocated to the domestic consumer supplier and to the thermal power plants of the cities. We do not see any syncopation in supply and we will certainly provide the necessary energy security for Romania," said Popescu, at a conference on "The challenges of winter 2023 - 2024 for the national energy system," organised by Focus Energetic.He pointed out that Romgaz presents itself as an active, profitable and competitive player on the Romanian energy market, with gas production in the first nine months of this year being just over 3.5 billion cubic metres."We still maintain an important share in the first six months of the year of almost 50% of deliveries. At the moment, we have a fairly small share of 1.52% in the electricity market. We are the sole oil agreement holder in eight onshore exploration-development fields and throughout the summer we have carried out important operations on wells in order to rehabilitate 113 wells this year. At the same time, in the first nine months of the year, a new number of 11 wells were put into production, with a cumulative daily flow of almost 400,000 cubic meters and a total production intake of over 47 million cubic meters," explained Popescu.The Romgaz director added that 56% of the company's total production is provided from commercial fields under rehabilitation, and these maintenance operations, which ultimately lead both to increasing the reserves recovery factor and to keeping the annual decline in production within estimated limits, are carried out in several perimeters.