Romgaz shareholders will discuss these propositions in a general assembly scheduled of January 23, 2015.

For the Iernut power plant, Romgaz seeks a partner to set up a joint-venture to operate the electricity production unit.

Romgaz took over Iernut in February 2013 from Electrocentrale Bucharest, to extinguish a debt of RON653 million.

The Iernut power plant covers up to 5% of the domestic electricity production market and by the beginning of 2016 it will reduce its production capacity from 800 MW to 600 MW, as two units will be shut down as they no longer meet environmental standards.

AGRI LNG Project Company was set up for the AGRI (Azerbaijan-Georgia-Romania Interconnector) project. Its shareholders are Romgaz, Georgian Oil and Gas Corporation, State Oil Company of Azerbaijan Republic (SOCAR) and Magyar Villamos Művek.

Romgaz is 70% owned by the Romanian state, through the Ministry of Economy.