The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Adriean Videanu, Romanian Minister of Economy, Trade and Business Environment. Taking part in the meeting were also Constantin Grigorie, Ambassador Extraordinary and Plenipotentiary of Romania to Russia, as well as heads of Romgaz S.A. and Transgaz S.A.: Marcel Piteiu and Florin Muntean.

During the negotiations the parties agreed to perform within the next few months the feasibility studies for a transit gas trunkline and an underground gas storage facility to be constructed in Romania within the South Stream project. The parties discussed the cooperation opportunities in power generation and other sectors in order to enhance the economic viability of the South Stream gas pipeline placement across Romania.

The meeting participants were unanimous in their opinion that the Russian-Romanian relationship in power generation had a high development potential, while joint gas projects execution by Gazprom, Romgaz and Transgaz would guarantee energy welfare for millions of consumers.

As Alexey Miller noted summing up the meeting, “it was a sincere and meaningful dialogue today. Based on the negotiations results, we may say that the issue of Romania’s possible participation in the South Stream project has been raised”.

The parties agreed that the Gazprom Management Committee Chairman would visit Romania this fall to resume the negotiations.

Background:

Russia has been supplying natural gas to Romania since 1979. In 2009  Gazprom furnished the country with 2.5 billion cubic meters of gas. Russian gas is exported to Romania under two long-term contracts effective until 2030.

Romania transits natural gas to Bulgaria, Macedonia, Turkey and Greece. Natural gas transit to the said countries amounted to 12.5 billion cubic meters in 2009.

The Romanian Ministry of Economy, Trade and Business Environment is the majority shareholder of  Romgaz S.A. The company deals with geological exploration, production and storage of  natural gas.

Set up in 2000, the state-owned Transgaz S.A. operates the national gas transmission system of Romania. The company is responsible for arranging transmission and international transit of natural gas, as  well as for dispatch control of gas deliveries.