Romania's Transgaz sets up Romanian Gas Hub with Austrian partner

Romania’s gas transport system operator Transgaz and the Central European Gas Hub (CEGH), the operator of the Virtual Trading Point in Austria, have signed an agreement to establish a Romanian joint stock company (Romanian Gas Hub) that would operate a Romanian Virtual Trading Point (VTP). CEGH is controlled by OMV Gas & Power (65%), Wiener Boerse (20%), and Eustream (15%).

Transgaz will hold 51% of the shares in the joint-venture and CEGH - the remaining 49%.

With the establishment of the “Romanian Gas Hub” the two partners want to provide the market with a liquid trading place for natural gas in Romania and to support gas traders in their business. The Hub entails the redesigning of all gas sector activities for a single purpose, particularly to facilitate gas trading to obtain the most effective gas prices at a certain point in time and to ensure quality services.

Central European Gas Hub, as the operator of the VTP in Austria, contributes with know-how in operating a successful gas hub, as CEGH is the most important trading place for natural gas in the CEE region. CEGH has proven to be one of the leading trading platforms in Central Europe with nominal volumes of 659 TWh of natural gas traded in 2018.

(Photo source: Transgaz.ro)