The termination notice was sent in September and Romgaz started executing the guarantees, Romgaz said in a report to the Bucharest Stock Exchange.
“ROMGAZ S.A. informs its shareholders and investors upon the fact that, starting October 13, 2025, Contract No. 40928/April 3, 2023, having as object the „Completion of works and commissioning of CTE Iernut by building a new combined cycle gas turbine power plant”, ceased by termination, following the non-execution of the contractual obligations (including the obligation to execute the works in due time) by the Executor,” Romgaz said.
Romgaz has completed the necessary and useful formalities for the execution of the guarantees established by Duro Felguera S.A., in accordance with the contractual provisions.
(English version by Loredana Fratila-Cristescu)