Gdf Suez Romania buys 14% stake in natural gas distributor Congaz

Energy group Gdf Suez Romania has increased its stake in the natural gas distributor Congaz from 85.77% to 99.72%. It acquired a 13.95% package from construction company Petroconst Constanta. This transaction allows Gdf Suez to strengthen its position in the Dobrogea area, said Eric Stab, president and general director with GDF SUEZ Energy Romania, cited by local Wall-street.ro. In July 2014, Gdf Suez became a majority shareholder in Congaz, after buying 28.59% from E.ON Ruhrgas International and a 28.59% package from OMV Petrom. Congaz was founded in 1999, to develop the distribution network in Constanta and other cities in the county. editor@romania-insider.com