Adrian Volintiru, Romgaz CEO, talked to Energy Industry Review where he discussed the company’s investment plans. Currently, the company is implementing the largest investment made in the energy sector in the past 10 years.
Are you interested in making procurements in the chemical and petrochemical sector?
We look for a value increase along the gas chain, because the content of methane in the Romanian gas is high and would rather suit the consumption of the chemical and petrochemical industry, which would increase the value of the molecule along the chain.
What investments are planned for the Black Sea?
Where possible, we have studied the data bases and our geologists are identifying investment opportunities.
We discuss large investments, which we perform together with Lukoil.
Currently, the company’s degree of indebtedness is zero and we plan to select an international financial rating firm to rate our company, which would increase the possibility to attract favourable financing possibilities, including through issuance of corporate bonds. Also, the company rating is helpful for the collaborations we would like to conclude with large companies willing to invest.
Romgaz requires rating assessment and establishment services because it initiates and maintains a continuous dialogue with rating agencies, enabling Romgaz to understand how it relates in terms of aspects and risks considered when assessing the rating.
As part of a big energy source diversification plan, Romgaz intends to bring to Romania LNG from a terminal to be built in Greece.
We have been constantly preoccupied with the possibility to diversify sources and Alexandroupolis is a source diversification method. It is a project which creates a new entry gate for the liquefied natural gas to the European transmission system through Greece, respectively through Alexandroupolis, directly connected to the Southern Corridor. Romgaz is preoccupied with source diversification as a means to cover risk, to be increasingly competitive or to react in case of extreme situations and, in terms of import sources, we have always scouted for alternative import sources.
May 2, 2019