Romanian gas system operator Transgaz doubles net profit in 2025

Transgaz (BVB: TGN), the state-owned operator of the Romanian natural gas transmission system, more than doubled its consolidated net profit in 2025 compared to 2024. The company’s profit increased from RON 410 million (EUR 80 million) to RON 899 million (EUR 176.4 million).

Transgaz’s operating revenues, before balancing and construction activities, advanced by 24%, to RON 2.6 billion, while equivalent operating expenses increased by only 9%, to RON 1.9 billion, according to the company press release.

The group reporting also includes Vestmoldtransgaz from the Republic of Moldova, in which Transgaz indirectly owns 75% of the shares, as well as the recent acquisition of Petrostar SA, where Transgaz recently took over 51% of the capital.

The increase in operating revenues comes from the capacity reservation component, mainly due to the increase in the reservation tariff, higher by RON 0.913/MWh.

The company’s stock saw a 180% increase in value in 2025, after it reported a fivefold increase in net profit in the first 9 months of the year, year-over-year. The Romanian government owns 58.5% of the gas operator, which is listed on the Bucharest Stock Exchange, with a capitalization of RON 17.2 billion.

(Photo source: Inquam Photos | George Calin)