“Despite” the agitation on the political scene, the natural gas transport and system operator, Transgaz, owned by the Romanian state, is doing its job: it is completing the Black Sea coast – Podișor gas pipeline (a strategic project that will bring gas extracted from the depths of the Black Sea to the national energy system), it has acquired a 51% stake in Petrostar’s share capital, and its shares are among the top gainers on the Bucharest Stock Exchange (with an appreciation of 42.86% this year, to 33.5 lei/unit).
Transgaz CEO Ion Sterian recently announced that the Tuzla – Podișor gas pipeline is at an extremely advanced stage of completion, so that it is expected to be received in July. The pipeline is important not only because it will transport the gas expected to be extracted, starting with 2027, from the Neptun Deep perimeter, but also because it will ensure the transit to Western Europe of gas from both the liquefied natural gas (LNG) terminals in Turkey and Greece, as well as gas from Azerbaijan, thus achieving an important European goal: ensuring the security of natural gas supply to Central and Eastern Europe by diversifying sources and transport routes.
The 310 km long Black Sea Coast – Podișor gas pipeline (an investment of approximately 500 million euros) will be officially received in July, and from August it will be put into use, for approximately two years, for repair and reclassification works on another important gas transit main from Turkey, Azerbaijan and Greece, which enters via Isaccea and exits via Nădlac/Csanadpalota (Hungary). This is the Isaccea – Șendreni – Siliștea – Butimanu – Bucharest pipeline, a pipeline that is over 35 – 40 years old and is undergoing repairs, on certain sections, and reclassification, to raise the working pressure to 50 atmospheres.
“I went together with Minister Burduja (no – Sebastian Burduja, Minister of Energy), an excellent diplomat not only on the energy side, to Azerbaijan, to the meeting for the Southern Gas Corridor, and afterwards to Istanbul, to another conference and bilateral meetings, and you will see what will happen to Romania: all the roads that lead – let’s use the quotation marks – to Rome, will pass through Romania! We have built and had a strategy and a strategic vision over the last 10 years and the results are visible: all we have done is increase the energy security of Romania and the countries of Central and Eastern Europe and the Balkans”, declared Ion Sterian, General Director of Transgaz.
On the other hand, according to him, all investments in interconnections with neighboring countries, as well as in the expansion and development of the internal natural gas transportation system are absolutely necessary, because, in the next few years, even with the gas extracted from Neptin Deep, national production will not be sufficient to cover the consumption needs of Romanians, especially since over 80% of the total population will have access to natural gas following investments in distribution, including through the Anghel Saligny program.
In addition, Transgaz is working at an accelerated pace to auction a super-bundled capacity product on all interconnection points, a unitary tariff product on all interconnection points, with a 25% discount to facilitate the transport of liquefied natural gas (LNG) from Greece directly to storage facilities in Ukraine.
Petrostar acquisition completed
Transgaz announced the completion of the acquisition of a 51% stake in Petrostar’s share capital, according to a report submitted to the Bucharest Stock Exchange. “SNTGN Transgaz informs investors that, in accordance with the provisions of art. 1 of the Extraordinary General Shareholders’ Meeting Decision no. 5 of April 9, 2025, the full subscription of the shares issued by Petrostar SA for the increase of the share capital by the amount of 4,520,143 lei, from 4,342,867 lei to 8,863,010 lei,” the report to the Stock Exchange states.
The increase was achieved by issuing a number of 57,217 new registered shares, each share having a nominal value of 79 lei/share.
Petrostar SA is one of the oldest and most representative companies in Romania, operating in the field of research, technological engineering and design for the oil and gas extractive industry.
The acquisition is part of Transgaz’s development strategy, which aims to expand operational capabilities in the area of support and auxiliary services for energy infrastructure, generate additional income from activities related to natural gas transportation, as well as capitalize on the complementarity between the fields of activity of Transgaz and Petrostar.
Transgaz shares, among the top increases in quotations on BVB
Transgaz (TGN) shares are among the top gainers on the Bucharest Stock Exchange (BVB), with a 42.86% appreciation this year, to 33.5 lei/unit. Thus, TGN shares have the largest advance both within the main BET index (which has appreciated by 6.86% this year) and within the energy sector index BET-NG (which has risen by 7.15%).
Transgaz recorded, on an individual level, a net profit of 453.3 million lei in the first quarter, up 87% compared to the same period last year. Also, operating income before balancing and construction activity according to IFRIC12 recorded an increase of 148% compared to the income achieved on March 31, 2024, at 950 million lei.
Through the National Natural Gas Transmission System Development Plan for the next ten years, Transgaz proposes major investment projects, estimated at 9.2 billion euros, investments for the strategic and sustainable development of the natural gas transmission infrastructure in Romania and its compliance with the requirements of European regulations in the field. The Romanian state owns, through the General Secretariat of the Government, 58.8% of Transgaz.
