S.N.G.N. Romgaz S.A. Announcement - Romgaz-Socar Trading Contract (0459K)
December 16 2022 - 7:33AM
UK Regulatory
TIDMSNGR
RNS Number : 0459K
S.N.G.N. Romgaz S.A.
16 December 2022
December 16, 2022
A N N O U N C E M E N T
S.N.G.N. ROMGAZ S.A. and SOCAR TRADING , a subsidiary of the
State Oil Company of the Republic of Azerbaijan, signed on December
16th, 2022, the first individual contract for gas deliveries from
Azerbaijan to Romania. The individual contract allows for scheduled
gas deliveries starting with January 1st, 2023, through the
Southern Corridor, by using transportation capacities of the TAP
and IGB pipelines and of the Bulgarian and Romanian transmission
systems. The contract is based on the General Agreement recently
concluded between the two companies, with unlimited term.
The signing of this contract ensures the possibility to acquire
natural gas quantities from Azerbaijan in order to fulfill the
potential consumption needs with import gas. The contract thus
serves the strategic objectives of security of supply and
diversification of gas sources.
The General Agreement for deliveries of natural gas from
Azerbaijan as well as this first individual contract are the result
of an excellent cooperation between S.N.G.N. ROMGAZ S.A. and SOCAR,
a cooperation initiated at the beginning of this year and
formalized by signing a Memorandum of Understanding in June. The
parties plan to continue their cooperation relationship and to
enhance the mechanisms for natural gas deliveries from Azerbaijan
to Romania.
Chief Executive Officer, Deputy Chief Executive Officer,
Razvan POPESCU Aristotel Marius JUDE
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