Romgaz supports the development of the Southern Gas Corridor from Caspian and Middle Eastern regions to Europe

By Edwig Ban
Today, in Azerbaijan, the fifth Annual Meeting of the Southen Gas Corridor Advisory Council (SGC Advisory Council) takes place. Romgaz SA Romania will reiterate its support for the development of the Southern Corridor project, but taking into account the continuation of the transport infrastructure by completing the Bulgaria-Greece Interconnector and the BRUA Project in the context of developing relations with Azerbaijan and potential partnership with SOCAR.
In this context, Romgaz’s General Manager Adrian Volintiru signed the Letter of Intent addressed to the SGC Advisory Council, chaired by Azerbaijan President Ilham Aliyev. Through this official document, Romgaz has expressed an interest in analyzing the opportunity to use the South Corridor infrastructure to ensure security of gas supply and diversification of sources for both our country and the countries bordering Romania.
Adrian Volintiru said: “By signing this document, Romgaz and implicitly Romania intends to become an important player with a strategic role in the region and a reliable partner for the countries involved in the implementation of these far-reaching projects. Romania is already involved in the development of the Vertical Corridor and is interested in taking over significant volumes of gas from the Southern Corridor. In this context, Romgaz will continue to develop collaborative relationships with similar companies involved in the construction and operation of the Southern Corridor. ”
During the official visit by Romgaz delegation to Azerbaijan, bilateral meetings with SOCAR representatives took place in order to continue discussions and establish cooperation guidelines for the next period. SOCAR representatives have shown interest in becoming partners of Romgaz in projects of common interest and not only in Romania and Azerbaijan, but also in other countries with potential for both companies.
Adrian Volintiru said: “The SOCAR visit comes in the context of identifying new opportunities for collaboration that will provide a strategic position for Romania in the region and that can provide new business opportunities for Romgaz. SOCAR’s willingness to identify collaborative variants with Romgaz confirms Romgaz’s recognition as a solid partner in future regional development plans. ”
At the fifth meeting of the SGC Advisory Council, attended attended the representatives of the Romanian Energy Ministry, Azerbaijan, Turkey and the other states involved in the project, along with senior European officials as well as representatives of the World Bank, EIB, EBRD and International Finance Corporation (IFC).
Romgaz is the largest producer and main supplier of natural gas in Romania. The company is admitted to trading on the Bucharest Stock Exchange and the London Stock Exchange (LSE). The main shareholder is the Romanian state with a 70% stake. The company has extensive experience in the field of exploration and production of natural gas, its history starting more than 100 years ago in 1909.
Romgaz conducts geological exploration in order to discover new gas fields, produces methane by exploiting the deposits of the company’s portfolio, deposits underground natural gas, performs interventions, capital repairs and special operations on wells and provides professional transport services. From 2013, R omgaz has expanded its field of activity by assimilating the thermoelectric power plant in Iernut, thus becoming a producer and supplier of electricity.