Transgaz signed interconnection agreements for the Negru Voda I point with the operator of the Bulgarian gas system, Bulgartransgaz, as well as with the Ukrainian operator Ukrtransgaz for the Isaccea 1 point. Both points represent points of cross-border interconnection for the pipe Tranzit 1 (Isaccea – Negru Voda), according to Transgaz representatives.
These agreements will enter force on October 1, 2016 and provide for the physical gas flows on the trajectory Ukraine – Romania – Bulgaria and ensure the virtual reverse flows. Currently, the physical reverse flows cannot be provided. However, the objective will be analyzed by transport operators and implemented in upcoming years. The interconnection agreements will be amended as to reflect the changes.
The conclusion of interconnection agreements between carriers adjacent to cross-border interconnection points between EU member states is an obligation imposed by EU Regulation 2015/703 establishing a network code for the rules on interoperability and data sharing.
Transgaz’s market capitalization reaches RON3.261 billion (EUR725 billion). Its shares rose 1.32% in the last year.
The company reported a profit of RON172.4 million in the first quarter of 2016, down 13.49% on the year. In 2015, the company had total revenues of RON1.917 billion, up 13.5% on the year. Its net profit declined 3% on the year in 2015, to RON487.7 million, from RON502.5 million in 2014.