LNG

May 13 (LNG) - Romgaz Group, the Romanian natural gas company and utility, almost tripled first-quarter revenues to 3.92 billion Romanian New Leu ($827 million) while quarterly net income doubled to 979.6M New Leu ($206.4M) versus the prior-year quarter. Romania is in the European Union but is outside the euro zone.

  Romgaz said Romania’s natural gas consumption for the quarter amounted to 44 terawatt hours, a drop of 11 percent on the year-ago quarter. Romania’s domestic natural gas production in the three months came to 1.30 billion cubic metres, 0.33 percent lower than in same quarter of 2021. Romgaz has just signed a credit facility agreement for €325 million ($338M) for the acquisition of all shares issued by ExxonMobil Exploration and Production Romania Ltd which holds 50 percent of the Black Sea XIX Neptun Deep Block concession.

Turkey President Tayyip Erdogan has claimed a Black Sea natural gas discovery by state-owned Turkish Petroleum (TPAO) of an additional 135 billion cubic metres of gas at the offshore Amasra-1 field, opening the way for production to offset some of the nation’s LNG and pipeline natural gas import needs.