Real estate developer Hagag Europe Development has expanded its Romanian operations into the energy sector with the acquisition of BTD Distribuție și Furnizare, a local company specializing in natural gas infrastructure, distribution, and supply. The company has opened a new local division – Hagag Energy – and announced plans to invest more than EUR 400 million in this market over the coming years.
The move marks Hagag’s formal entry into the natural gas market and includes a full takeover of existing operations, staff, systems, and contractual obligations.
The company expects the new branch to generate at least 200 new jobs by the end of 2027.
“Over the past eight years, our real estate developments have redefined Bucharest’s urban landscape. Today, we are expanding our vision beyond buildings, taking a first step towards the evolution of the group here in Romania,” said Yitzhak Hagag, Co-founder and Chairman of the Board of Directors of Hagag Europe Development.
“The distribution and supply of natural gas is, for us, just the starting line, as our global vision is to expand our company’s presence across more than one segment of the energy industry, in line with our approach in the real estate sector.”
Hagag enters the market with a volume of 67 contracts covering the concession of the public natural gas distribution service, namely design, execution, and operation of natural gas distribution networks.
With three natural gas distribution networks already completed and currently in operation, 21 in the design phase, 23 under development, and 20 in the permitting process, the company expects to commission a total of 64 new networks over the next 24 months.
“Romania remains the heart of our activity in Europe, and our goal is to grow here, together with the local market. At the same time, we see Romania as one of the main players in the natural gas field, with the national production covering between 70% and 80% of domestic consumption. Therefore, in the context of the energy sector’s evolution – encouraged equally by, but not limited to, the accelerated public investments in gas infrastructure and the Neptune Deep project – the decision to diversify our activity in this field comes at a time of progress not only for the industry but also for us as an organization,” Yitzhak Hagag added.
Hagag estimates an increase of at least 35% in the number of active customers generated by its natural gas distribution and supply activities by the end of 2027.
irina.marica@romania-insider.com
(Photo source: the company)
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