EMMA Capital gets green light to take over Romanian natural gas producer

EMMA Capital, the Czech investment fund controlled by billionaire Jiří Šmejc, received the permit from the national regulatory body to take over the Romanian natural gas producer Stratum Energy through its subsidiary EMMA Lambda.

The unit would add to EMMA's operations in Romania, which are conducted through Premier Energy in the sectors of natural gas supply and distribution, green electricity generation, and electricity supply.

Stratum Energy Romania is one of the small-sized natural gas producers in Romania, with RON 280 million (EUR 56 million) turnover and RON 55 million losses in 2022, Ziarul Financiar reported. Its activities are carried out in the Poduri field at Moineşti in Bacău County.

US-based Stratum Energy announced in 2014 plans to invest EUR 150 million in the exploitation phase of its Romanian operations and will thus become the third largest natural gas producer in the country after OMV Petrom and Romgaz. Back then the gas yield was seen at between 3mn m3 per day and 6mn m3 per day. Supplementary, 500-900mn m3 per day of gas condensate [light coil] could be produced – and this would value some 70% of the cost of the extracted gas.

Premier Energy, one of the companies in EMMA Capital's portfolio dealing with natural gas distribution and supply, strengthened its position in Romania after it took over the energy supplier CEZ Vânzare, with 1.2 million consumers of a total of 9 million in the country, at the end of last year.

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