Romanian Transgaz makes more money from contracts with Russian Gazprom

State-owned gas transporter Transgaz recorded a 12.3% drop in its net profit in the first six months of this year. The profit reached EUR 63.2 million, and its decrease was due to higher operating expenses. The gas transporter saw total revenues of almost EUR 208 million during this period, up 4% year-on-year. The revenues from the natural gas transport in Romania, which is the company’s most important revenue source, dropped by 4.5% to EUR 142 million. However, Transgaz received more money from the international transit of Russian gas through its pipes, based on the contracts with the Russian gas company Gazprom. The amount reached EUR 36 million, up 1.2% year-on-year. Transgaz is 58.5%-owned by the Romanian state. The company is listed on the Bucharest Stock Exchange and has a market capitalization of some EUR 750 million. editor@romania-insider.com