Romgaz had planned to vote earlier today its potential participation in the construction of a 1,000-megawatt hydropower plant in Tarnita-Lapustesti and of an underwater electric cable linking Romania to Turkey, but the discussion was postponed at the request of several minority stockholders, Nicolescu said in a statement.
“The two project continue to be strategic for Romania,” he added.
Romgaz is 70%-owned by the state, through the Energy Department. Investment fund Fondul Proprietatea (FP.RO) holds a 14.99% stake, while various other shareholders own the remaining shares.
The company reported a net profit of 930.7 million lei (EUR201.6 million) in 2013, down 16.8% on the year. Sales rose 1.5% to RON3.89 billion.