The decline was due to the drop in imported gas prices and in the demand for gas in Romania.
Romania got 1.19 billion cubic meters of natural gas in 2013 compared with the 2.17 billion it bought in 2012, according to Gazprom Export, the natural gas, oil and oil product trading arm of the Russian giant.
“Russian natural gas export began in 1979, and its share of the Romanian market has at various times made up between 20 and 25% of the total consumption volume. Gas deliveries from the Russian Federation are executed under long-term contracts with WIEE and Conef Energy companies. New contracts were signed with both companies in 2007 providing for Russian natural gas deliveries to Romania till 2030,” reads the Gazprom Export website.
WIEE is a joint venture registered in Switzerland of Gazprom and Germany’s Wintershall group, while Conef Energy is a company of Russian tycoon Vitaly Machitsky, who owns a number of aluminum businesses, including Alro Slatina.
The reports of the national energy market regulator ANRE show total gas imports, which include imports from Russia, accounted for 24.3% or 3.3 billion of a 13.6 billion cubic meter consumption.
Total gas imports stood at 2.1 billion cubic meters in 2013, according to ZF’s calculations based on the data published by Romania’s national gas transmission company Transgaz (TGN.RO). Consumption amounted at some 13.5 billion cubic meters.
The difference between the import figures reported by ANRE and those of Gazprom Export resides in how the Romanian authorities calculate imports. The figure actually shows Romania’s total imports, while the figures provided by Gazprom Export show only deliveries made under Gazprom contracts, Gazprom Export officials say. Besides Russia, Romania also imports natural gas via the Arad-Szeged pipeline, which links it to Hungary.
Romania paid some $898 million for the gas imported last year, $497 million of which reached Gazprom Export. Calculations are based on a price of $417.9 per 1,000 cubic meters valid for the first nine months of 2013, according to OMV Petrom (SNP.RO) financial reports.
The country’s gas bill stood at $1.46 billion in 2012, 60% higher than in 2011, $959 million of which went to Gazprom Export. Calculations are based on a price of $442 per 1,000 cubic meters.
Romania therefore paid $462 million less for the natural gas it bought from Gazprom last year. This was the second highest decline, 45%, in Europe after Macedonia’s 46%, a country which imports very little gas from Russia, though.
(English version by Loredana Fratila-Cristescu)