Romanian Romgaz completes expansion works at gas deposit in Urziceni

Romanian gas producer Romgaz has completed the expansion works at the gas deposit in Urziceni, Ialomita county. A total of EUR 25 million were invested to increase the deposit’s storage capacity. Following this investment, the total capacity of the deposit in Urziceni increased to 360 million cubic meters, from 250 million cubic meters, reports local Agerpres. Also, the deposit will now operate with 2.5 million cubic meters per day at injection and with 4 million cubic meters per day at extraction. Romgaz registered a net profit of RON 870.9 million (over EUR 195 million) in the first six months of 2014, up almost 40 percent year-on-year, according to the company’s report. Its turnover also increased by 32.8 percent to RON 2.52 billion (EUR 565 million). Irina Popescu, irina.popescu@romania-insider.com