Romgaz produces less gas as Romania imports more

Romanian state-owned gas producer Romgaz extracted 3.03 billion cubic meters of gas in the first nine months of the year. The amount is 27% lower compared to the same period last year, according to a report sent by the company to the Bucharest Stock Exchange. The company had a weaker performance, as the consumer demand for natural gas in Romania dropped by about 6%, according to the report. However, while the Romgaz production went down, the gas imports from Russia increased. This winter, Romania is expected cover 40% of its consumption with imported gas. In the first nine months of this year, the gas imports were five times higher compared to the same period last year, according to data from the National Statistics Institute (INS). Meanwhile, the national gas production dropped by 13.5%. Romgaz posted lower revenues and profits in the first nine months, as a result of lower output. editor@romania-insider.com