The company is expecting the first interim report of the consultants.
“Yes, we are conducting due diligence right now,” said Gabriela Mares, director of international relations and EU funds with Romgaz, at the third quarter 2025 results conference.
The due diligence is almost complete. Romgaz has two consultants for the process. One for the technical, economic and environmental due diligence, and a different consultant for legal due diligence. The first interim reports are expected to arrive maybe this week, she added.
“The plan is to evaluate them and come up with the final reports and, if necessary, with a binding bid by yearend.”
The industry sees a potential takeover of Azomures, the largest chemical fertilizer maker in Romania, as a logical move, considering natural gas accounts for 70% of the production costs of nitrogen fertilizers.
The Black Sea gas, the drilling of which should start in the Neptun Deep project in 2027, could be used in Romania, which would give Romgaz a competitive edge and the plant a greater cost stability.
(English version by Loredana Fratila-Cristescu)