National gas transmission operator Transgaz posted a net profit of RON 241.94 million for Q1 2024, up 93 percent year-over-year, show the Quarterly Financial Results as of March 31, 2024 submitted to the Bucharest Stock Exchange on Wednesday.
Across the group, which includes Eurotransgaz SRL in the Republic of Moldova, and its subsidiary Vestmoldtransgaz SRL, the Q1 net profit was RON 262.86 million, up 113 percent compared to the first quarter of last year.
Natural gas delivery services provided by Vestmoldtransgaz SRL between January 1 and March 31, 2024 amounted to RON 60.70 million.
SNTGN Transgaz is sole operator of the National Gas Transmission System which ensures the transport of over 90 percent of the natural gas consumed in Romania.
Transgaz carries out the following activities: domestic transport of natural gas - an activity regulated as a monopoly, with fees set according to the methodology issued by the National Energy Regulatory Authority; international transport of natural gas - an unregulated activity carried out through natural gas transport pipelines, with fees established in accordance with trading contracts concluded between the parties; gas dispatching, as well as research and design in the field of natural gas transportation.
As a natural gas transmission and system operator certified according to the EU's Third Energy Package, since July 2010 Transgaz is a member of the European Network of Transmission System Operators for Gas (ENTSOG), an organization under whose umbrella it cooperates with all European operators of natural gas transmission systems.
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