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.