Natural gas producer and supplier Romgaz (BVB: SNG) announced on July 10, in a note to investors, that the company has amended a sales-purchase agreement with Engie Romania, the largest gas distributor in Romania, as a result of the decrease in energy prices.<\/p>\n
Following the change in the legislative framework (the price capping mechanism for residential end users), the contract changed from RON 150 per MWh to RON 120 per MWh, meaning a 20% decrease. Thus, the value of the agreement dropped from RON 289.4 million to RON 233 million, according to the note to investors.<\/p>\n
Romgaz has budgeted for 2024 total revenues of RON 7.65 billion, down 9% from the company’s initial estimates. The targeted gross profit is RON 2.34 billion, 22% less than this year’s first budget planning.<\/p>\n
In Q1\/2024, the group posted a net profit of RON 1.2 billion, 28% up y\/y. The turnover decreased by 22% y\/y to RON 2.3 billion.<\/p>\n
iulian@romania-insider.com<\/em><\/p>\n (Photo source: Inquam Photos\/Adel Al<\/em>–Haddad)<\/em><\/p>","protected":false},"excerpt":{"rendered":" Natural gas producer and supplier Romgaz (BVB: SNG) announced on July 10, in a note to investors, that the company has amended a sales-purchase agreement with Engie Romania, the largest gas distributor in Romania, as a result of the decrease in energy prices. Following the change in the legislative framework (the price capping mechanism for […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-853","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=853"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/853\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}