“Approval of the establishment of a limited liability company for hydrogen transmission, having SNTGN Transgaz SA as sole shareholder, and empowerment of Mr Ion Sterian, as Director – General of SNTGN Transgaz SA, to carry out all legal formalities necessary for the establishment of the limited liability company and to sign all documents related to these formalities, including the bylaws of the company to be established”, the report shows.
Hydrogen can be transported and stored as such, in gaseous or liquid form, or as a Liquid Organic Hydrogen Carrier (LOHC), which is a chemical compound that can be hydrogenated and dehydrogenated. In order to transport hydrogen through the natural gas distribution and/or transport network, the transport pipelines must withstand the permeability of hydrogen, for example polyethylene pipelines.
Along with Bulgaria and Greece, Romania is part of the HI East priority corridor for hydrogen and electrolysis. Its geographical proximity to North Africa and the Middle East facilitates future imports of renewable hydrogen by sea, or even by submarine pipelines. Estimated hydrogen demand for this corridor is 53 TWh per year by 2030, 179 TWh per year by 2040 and 260 TWh per year by 2050.
Transgaz ended 2023 with net profit of RON172.4 million, at a group level, down 50% vs 2022, as per the company’s preliminary consolidated report published at the Bucharest Stock Exchange. At an individual level, net profit reached RON160 million in 2023, down 56% on the year. The report also showed that operating revenue before the balancing and construction activity, according to IFRIC12, reached RON1.78 billion, at a consolidated level, up 13% year-over-year.
TGN shares have lost 10.7% in the last 12 months, but gained 0.6% so far in 2024. The company is valued at RON3.6 billion.