News and announcements

29.04.2016

PRESS RELEASE

The National Gas Transmission Company ”TRANSGAZ” SA notifies all stakeholders that the economic-financial results for 2015 as contemplated in the Annual Financial Statements and in the Report of the Board of Administration were approved by the General Ordinary Shareholders’ Assembly - convened on 29.04.2016.

The results achieved in 2015 prove that the indicators established under the mandate contracts were exceeded by over 10-15%.

Therefore, Transgaz’ outstanding financial performance for 2015 is reflected in the following indicators:

• EBITDA for 2015 amounting to Lei 779,579 thousand is higher by 26% than as estimated under the Company’s Administration Plan for 2015, i.e. Lei 619,625 thousand;
• OPEX  (except for depreciation) for 2015, amounting to Lei 883,818 thousand, is lower by Lei 193,184 than as estimated under the Company’s Administration Plan for 2015;
• Other relevant indicators: total revenue – Lei 1,706,634 thousand; total expenses – Lei 1,099,534 thousand; gross profit – Lei 607,100 thousand; net profit – Lei 488,729 thousand;
• The detailed financial results can be referred to on the company’s website, at: www.transgaz.ro

The main drivers for the company’s significant performance for 2015 are as follows:

• The increase in the revenues from international gas transmission services generated by the variations in the contract currency exchange rates
• The increase in the capacity charge share in the total revenues from 35% to 60%
• The increase in the booked capacity considering the shift to capacity booking by entry/exit points as of 01.08.2014
• The decrease in the volume charge share in the total revenues from 65% to 40%;
• The increase in the invoiced gas amounts;
• The gross savings related to various expense categories aggregating Lei 345,852 thousand

The company’s Administration Plan for 2015 contemplated an estimated investment volume of Lei 352,200 thousand, out of which investments amounting to Lei 239,554 thousand were implemented in 2015, i.e. an achievement level of 68%. The savings which have been made for the last years by the proper planning of investments, except for the urgent works strictly required to secure the safe operation of the National Gas Transmission System, lay the solid foundations for the equity funding of the company’s strategic importance projects.

In this context, the company succeeded to obtain, based on extensive negotiations (of about 2 years), one of the most considerable EU grants and the highest amount to be individually allocated to a Romanian company, i.e. Euro 179 million for the implementation of the BG-RO-HU-AT Corridor (BRUA Project).

TRANSGAZ’ General Ordinary Shareholders’ Assembly within the meeting on 29.04.2016 approved the company’s annual financial results for 2015 and acknowledged the Report of the Nomination and Remuneration Advisory Committee on the remuneration and other benefits granted to the company’s administrators and directors in 2015. The compensation of the managerial team for the relevant performance during 2015 amounting to Lei 2.82 mil represents the sole remuneration of the members of Transgaz’ Board of Administration.

TRANSGAZ’ Administrators have undertaken the achievement of the following fundamental goals:

• The company’s sustainable development;
• Streamlining of the operational process;
• Safeguarding the compliance with the Romanian and European regulations.

TRANSGAZ is the technical operator of the Romanian National Gas Transmission System implementing the national strategy for domestic and international gas transmission, gas dispatching as well as research and design, under conditions of efficiency, transparency, safety, non-discriminatory access and competitiveness, in compliance with the Romanian and EU standards and laws on quality, performance, environment and sustainable development.                               

CORPORATE COMMUNICATION DEPARTMENT

PRESS RELEASE

Transgaz and Bulgartransgaz signed on 6 April 2016 the contract with the Austrian company SC HABAU PPS Pipeline Systems SRL – the winner of the public procurement procedure, developed according to the Bulgarian legislation, with the subject:” Construction of a main gas pipeline DN 500 of the Danube Crossing (including the Danube Undercrossing) to interconnect the gas transmission systems of Romania and Bulgaria”

The contract signing ceremony was hosted by Bulgartransgaz EAD at the company’s headquarters in Sofia, in the presence of representatives of the two gas transmission operators in Romania and Bulgaria. The honorable Bulgarian Minister of Energy, Mrs. Temenuzhka Petkova, attended the event.

The main Danube undercrossing pipeline to interconnect the gas transmission systems in Bulgaria and Romania will be completed in 119 days since the contract with the Austrian company SC HABAU PPS Pipeline Systems SRL is signed and it will have a maximum bidirectional capacity of 1.5 bcm/y.

Transgaz and Bulgartransgaz took an important step in the process related to the completion of the interconnection of the neighboring gas transmission systems in Bulgaria and Romania.

The completion of the interconnection project Bulgaria-Romania is of outmost importance from the perspective of the security of gas supply in the region, generating the premises of the integration of the gas sources from the Southern Corridor in the markets from Central and Western Europe.

                                       INSTITUTIONAL COMMUNICATION DEPARTMENT

Natural gas transmission system operator companies SNTGN Transgaz SA, FGSZ Zrt. and Gas Connect Austria GmbH consider to jointly conduct a binding open season for the booking of new or incremental cross-border transmission capacity at the Romanian-Hungarian border and the Hungarian-Austrian border, in both flow directions. The preparatory process is supported by the respective national regulatory authorities, i.e. ANRE (Romania), HEA (Hungary) and E-Control (Austria). All involved TSOs published the same survey electronically either via an electronic form [link] or as a downloadable document. In case you choose to fill in the attached document, please submit it to the following email address: marketsurvey.BRUA2016@transgaz.ro

The deadline for the submission of answers is 22 February 2016, 16:00.