Gas imports from Russia are expected to reach USD 545/1000 cubic meters

Newsroom 27/09/2011 | 18:24

The price of gas imports from Russia is expected to reach USD 545 for 1000 cubic meters this October, according to Agerpres newswire. This statement was made by Hilmar Kroat-Reder, member of the Petrom directorate and responsible for the natural gas market, during a conference on energy.

In the first trimester of 2011, the price of gas imports was USD 400 dollars for 1000 cubic meters. However, the price for natural gas from the local production stood at USD 155.

Kroat-Reder mentioned that the price of natural gas from the local production hasn’t suffered any adjustment, not even with the medium inflation rate of 6 to 8 percent, in the last three years. In July, the local production of natural gas represented 83 percent of all sources, with Romgaz and Petrom covering over 95 percent from this source.

The Petrom representative added that the Romanian natural gas market is not attractive for investors, due to a lack of connectivity to regional markets. The liberalization of the natural gas market should contribute to an increase in investments and reduced tariffs for this market.

Ovidiu Posirca