Romania to define reference gas price for new royalties scheme

Georgiana Bendre | 15/05/2017 | 17:01

The National Agency for Mineral Resources (ANRM) will establish the reference price of royalty calculations for natural gas, said Sorin Gal, general director within the institution, according to Agerpres.

„The reference price for natural gas is a subject that I committed to personally in the last two year. The methodology is ready, it will be debated today (this Monday), maybe we’ll succeed to post it on the site. In 10 days there will be questions and observations, we’ll meet with the interested ones on this subject during the debate and I hope that at the beginning of June we’ll issue the decree,” said Gal.

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Gal explained that in 2020, when the BRUA pipeline will be ready, Romania’s gas exports will reach 50 percent of the production.

„As principles, were taken into account a tax rate and a royalty calculated at a real reference price, using the weighted price of the internal market, applying the superior caloric power, the annual average and we have the export price that we’ll be applied in the future. The export share today is under one percent, it will grow to 50 percent in 2020, after BRUA will be finished,” added Gal.

„We want to have a real price, that can be accepted by everybody as a fair price,” concluded Gal. He added that the new royalty system will apply for future petroleum agreements.

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