“Subject to the provisions of article 234 of F.S.A Regulation no. 5/2018 regarding Issuers of Financial Instruments and Market Operations, S.N.G.N. Romgaz S.A. informs the shareholders and investors that, by Resolution no. 36/2020, the Board of Directors approved the establishment of Drobeta – Turnu Severin Branch within S.N.G.N. ROMGAZ S.A.,” the company said in a stock market report.
The decision to operate with a new branch comes in the context in which the company seeks “to develop its activity, including, but without limitation to, the natural gas supply activity to the end customer also in other areas than those covered today by the current work locations and branches; the aim is also to efficiently manage the participation of S.N.G.N. ROMGAZ S.A. in development and supply projects regulated by the Memorandum of Understanding (MoU) concluded between Romgaz and commercial company SC Mehedinti S.A.”
Romgaz Chief Executive Officer Adrian Volintiru said at the signing of MoU of September 11 that “the signing of the MoU between the two companies and the establishment of Drobeta Turnu-Severin Branch is, in fact, the first step taken by Romgaz towards becoming an active player on the natural gas distribution and supply market.”