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Societatea Națională de Gaze Naturale Romgaz SA Mediaș (SNGN Romgaz SA) or simply Romgaz is the largest natural gas producerin Romania and one of the largest producers in Eastern Europe.[2] The company is the country's main supplier and responsible for producing around 40% of the total natural gas consumption in Romania.[3] Its majority stockholder is the Government of Romania, which owns 70.01%. Fondul Proprietatea owns 14.99%, while the remaining 15% is owned by various shareholders.[4]

Romgaz SA
state owned
Traded asBVB: SNG
IndustryNatural gas
HeadquartersMediaș, Romania
Key people
Adrian Constantin Volintiru, CEO
ProductsNatural gas
RevenueIncrease US$ 1.1 billion (2017)[1]
Increase US$ 516.12 million (2017)
Increase US$ 443.41 million (2017)
Total assetsDecrease US$ 2.6 billion
Number of employees
Increase 6,198 (2017)

The company is specialized in geological research for the discovery of hydrocarbons, production, storage, commercialization and the supply of natural gas and natural gas condensate. Romgaz is structured into six branches: two production branches located in Târgu Mureș and Mediaș, one underground storage branch located in Ploieşti, a special operations branch located in Mediaş, a maintenance branch located in Târgu Mureș and one international office located in Bratislava, Slovakia.[5]



Early history and foundation (1909-1960)Edit

On the present-day territory of Romania, the first natural gas deposit was discovered in 1909, in Sărmăşel, Mureş County (then in Austria-Hungary), further to geological researches on potassium salts. The first gas production was used to power the steam boilers in Sărmăşel and the gas lighting of the alleys in Bazna resort. The first gas transmission pipeline was built in 1914 covering the 55 km (34 mi) between Sărmăşel and Turda, with the last being the first city in Europe to have public street lights fuelled by natural gas in 1916.[6][7] In 1927 the first natural gas compression station in Europe was built in Sărmăşel.[6] Following the successful gas discovery many foreign companies started to prospect the territories including American, British, French and Austria-Hungarian companies. The American success in the exploitation and usage of natural gas determined the foundation of Societatea Maghiara de Gaz Metan UEG (Hungarian Methane Company) by the Hungarian Ministry of Finances and Deutsche Bank whose scope of activity was the exploration, exploitation, transmission, distribution and use of natural gas in certain regions within Transylvania. A prodigious period followed for the gas distribution business and the year 1941 marks the construction of the first natural gas pipeline from Măneşti to Bucharest, while the following year a main pipeline is built for the transportation of natural gas from Transylvania to the capital city.[7] After the unification of Transylvania and Romania in 1919 the Direcția gazului natural company is established at Cluj Napoca affiliated to the Ministry of Industry and Commerce in Bucharest, which later in 1925 was renamed to Societatea Națională de Gaz Metan SONAMETAN (National Methane Company).

Early expansions and formation of today's company (1961-2001)Edit

The first underground storage facility was operated in 1961, and in 1976 the company's largest natural gas output was realised 29.8 cubic kilometers.[7] In 1991 the company is renamed as Regia Autonomă Romgaz RA and in 1998 it is renamed as Societatea Națională de Gaze Naturale Romgaz SA. In the year 2000, Romgaz was then divided into five smaller independent companies: Exprogaz, Depogaz, Transgaz, Distrigaz Sud and Distrigaz Nord.[7][8][9] And in 2001, Exprogaz and Depogaz were merged to create SNGN Romgaz SA the current company.[7]

Privatization (2004-2013)Edit

Until 2004, the government of Romania held 100% of shares in Romgaz and in 2005, first announced plans of privatizing the company.[10] Discussions over possible investors were held until 2006 and then further delayed several times and eventually pushed back until 2009.[11] In 2010, plans to sell 15% of the company resurfaced[12] but another two years went by, before details of the deal to be became more specific.[13] The government then decided to sell 15% of different energy companies via initial and secondary public offerings.[14] Romgaz finally debuted the planned percentage of shares on Romanian and London stock exchanges in November 2013. The IPO became the largest in the history of Romania, raising almost €390 million.[15][16]

In 2007, Romgaz was granted eight concessions by the Romanian National Agency for Mineral Resources (ANRM) and announced to invest €220 million annually into exploration in the concession areas over the next three or four years (2007-2010).[17]

Recent developments (2013-)Edit

In 2018, news about a potential partnership between Romgaz and Azeri group Socar in different Black Sea offshore gas and pipeline projects surfaced.[18]

Corporate affairsEdit


Romgaz has some minor subsidiaries. Since December 31, 2016 the company S.N.G.N. ROMGAZ S.A. – Filiala de Înmagazinare Subterană a Gazelor Naturale DEPOGAZ Ploieşti S.R.L. operates as a subsidiary, which is in charge of operating Romgaz's gas storage facilities.[19]


Romgaz is led by a seven member board of directors, led by non-executive chairman Nistoran Dorin Liviu.[20] Since 2018, the company's chief executive officer is Adrian Constantin Volintiru, who is also an executive member of the board of directors.[21][22]


As of September 30, 2018, Romgaz's shareholder structure is:[23]

  • 70.01% Romanian State (through the Ministry of Energy)
  • 29.09% Free Float


Upstream operationsEdit

In 2017, Romgaz reported proven gas reserves of 60.1 billion cubic metres (bcm), with additional 10.6 bcm probable and 12.8 bcm possible.[24]


The production and storage of natural gas is realised by around 3,600 rigs and 20 compression stations.[25] Romgaz owns a total of 153 commercial reservoirs located in Transylvania, Moldavia and Muntenia with around 75% or 114 being located in Transylvania especially in Mureş and Sibiu counties.[26] The company produced in 2009 5.76 cubic kilometers of natural gas and expects a 5% decrease in production for 2010 to around 5.65 cubic kilometers.[27] The company operates several large natural gas fields like Bazna, Brodina, Copşa Mică, Deleni, Filitelnic, Grădiştea, Laslău Mare, Mamu, Roman-Secuieni, Şamşud, Sărmaşel, Sighişoara and Zau de Câmpie with combined reserves of 4.351 TCF (112 km³).

Romgaz has established partnerships with different companies in a total of 15 petroleum concessions based in Romania. The company has joint-ventures with Wintershall in the exploration and development of the RG 03 Transilvania South Block, with Falcon Oil & Gas in the exploitation of the Brodina and Cuejdiu Blocks, with Amromco Energy in the rehabilitation of 11 gas fields and with Schlumberger for the rehabilitation of Laslău Mare gas field.[28]

In 2017, total revenue for natural gas production and supply were $858 million (RON 3,604.96 million), representing a 32.6 percent increase in total income compared to 2016.[29][30]


In 2008 Romgaz became co-titleholder of petroleum rights and obligations in 3 blocks from Slovakia and 2 blocks from Poland. Romgaz holds 25% interest share in three exploration blocks from Slovakia, namely Svidník gas field, Medzilaborce and Snina, and an interest share of 30% in two blocks from Poland, namely Torzym-Cybinka oil field.[28]

In 2010, Romgaz announced that it has acquired stakes in five oil and gas fields located in Iraq.[31]


Romgaz also operates six underground storage facilities with a combined capacity of 2.76 cubic kilometers.[32] The storage facilities are located in Sărmăşel and Cetatea de Baltă in Transylvania, Bilciurești, Bălăceanca, Urziceni and Ghercești in Southern Romania.[32] The company also owns other storage facilities in joint-ventures with other companies like Depomureş in Târgu Mureş and Amgaz in Nadeș. The largest of the six storages is the Bilciurești facility located 40 km (25 mi) North - North - West of Bucharest having a storage capacity of 1.3 cubic kilometers in one cycle and it is located at a depth of 2,000 m (6,600 ft).[32]

Romgaz also operates a transmission network of pipelines, exceeding 3,000 kilometers.[33]

In 2017, total revenue for storage was $110 million (RON 464.18 million), representing a 46.44 percent increase in total income compared to 2016.[29][30]

Electricity productionEdit

In 2017, Romgaz produced 1,863,788 MW (+14.5% compared to 2016), representing 2.68% of Romania’s total electricity production. According to Transelectrica, the company's market share in 2017 was 2.95%.[24] Most of Romgaz' electricity production comes from the Iernut Power Station, a large thermal power plant located in Iernut, Mureş County.[34]

The company also runs experimental power generation projects at gas wells, that are located to far away to make a connection to Romania's national transmission system feasible. Currently wells Cojocna 2 and 4 are equipped with a 1.5 MW electricity generation unit each, which uses the wells combustion gas to supply power, which is being fed into the national electricity grid.[34]

In 2017, total revenue for electricity production was $120 million (RON 505.81 million), representing a 38 percent increase in total income compared to 2016.[29][30]

Social responsibility and sustainabilityEdit

Since 2007, Romgaz has been supporting the only international chess competition in Romania. The contest is called the "Kings Tournament" and is in its seventh edition. He has been included in the Grand Slam Chess Association Chess Tournament series for three years.[35] Romgaz and UNICEF partnered to launch the "Let's go to school" campaign in Romania in 2015, aiming to prevent and reduce school absenteeism, dropout and early school leaving.[36]

In 2017, the company reported a total investment of $1.8 million (RON 7.7 million) into different sustainability projects and communities. The sum was invested into the medical and health sector, into education, social and sports clubs and other sponsorships.[30]


  1. ^ "Annual Report (2017)" (PDF). Romgaz. Retrieved February 7, 2019.
  2. ^ "Romgaz caută gaze în Marea Neagră". Evenimentul Zilei. Retrieved August 21, 2010.
  3. ^ "Romgaz's net profit up by 82.4 pct in 2017, a record since BVB and London Stock Exchange listing". Business Review (in Romanian). 2018-02-15. Retrieved 2019-02-14.
  4. ^
  5. ^ "Company Profile". Romgaz. Retrieved August 20, 2010.
  6. ^ a b "100 de ani de la descoperirea si utilizarea gazelor naturale pe teritoriul Romaniei". Asociatia Generala a Inginerilor din Romania. Archived from the original on July 19, 2011. Retrieved August 20, 2010.
  7. ^ a b c d e "Company Background". Romgaz. Retrieved August 20, 2010.
  8. ^ "Login". Retrieved 2019-02-06.
  9. ^ "Economic troubles boost Ukrainian presidential rule - New Europe" (PDF).
  10. ^ "The Diplomat - Bucharest". Retrieved 2019-02-06.
  11. ^ "The Black Sea: a Hotbed of Corruption over Oil and Gas Deposits?". Jamestown. Retrieved 2019-02-06.
  12. ^ "News - Romania will privatize 15% of Transelectrica, Transgaz and Romgaz". Retrieved 2019-02-06.
  13. ^ "Privatization barometer". Retrieved 2019-02-06.
  14. ^ "Romania". U.S. Department of State. Retrieved 2019-02-06.
  15. ^ Ellyatt, Holly (2013-11-18). "'Tiger' of Eastern Europe is waking up: Romanian PM". Retrieved 2019-02-06.
  16. ^ "Mediafax Comunicate – Cel mai eficient site de comunicate de presa". Retrieved 2019-02-06.
  17. ^ "Romgaz eyes big investment in gas exploration" (PDF).
  18. ^ "Romania's Romgaz ready to ally with Azerbaijan's Socar in Black Sea offshore projects". Business Review (in Romanian). 2019-01-21. Retrieved 2019-02-14.
  19. ^ "Board of Director's Report 2016" (PDF). Romgaz Corporate Website.
  20. ^ "Structure of the Board of Directors". Romgaz Corporate Website.
  21. ^ "Adrian Constantin Volintiru". Romgaz Corporate Website.
  22. ^ "Corporate Management (Overview)". Romgaz Corporate Website.
  23. ^ "Shareholder Structure". Romgaz Corporate Website.
  24. ^ a b "Board of Directors' Report 2017" (PDF).
  25. ^ "Analiză în imperiul gazului". Ziarul de Sibiu. Archived from the original on October 5, 2011. Retrieved August 20, 2010.
  26. ^ "Production". Romgaz. Retrieved August 20, 2010.
  27. ^ "Romgaz estimează că producţia de gaze va scădea uşor în 2010, la 5,65 miliarde metri cubi". Archived from the original on April 16, 2013. Retrieved August 20, 2010.
  28. ^ a b "Cooperation". Romgaz. Retrieved August 20, 2010.
  29. ^ a b c "Romgaz's net profit up by 82.4 pct in 2017, a record since BVB and London Stock Exchange listing". Business Review (in Romanian). 2018-02-15. Retrieved 2019-02-14.
  30. ^ a b c d "2017 Sustainability Report" (PDF). Romgaz Corporate Website.
  31. ^ "Romgaz va dezvolta campuri de gaze in Irak". Wall Street Journal. Retrieved August 20, 2010.
  32. ^ a b c "Storage". Romgaz. Retrieved August 20, 2010.
  33. ^ "Buzescu Ca | Gas operations in Romania". Retrieved 2019-02-06.
  34. ^ a b "Electric Power Production and Supply". Romgaz Corporate Website.
  35. ^ "The Kings of Chess come to Romania". Chess News. 2007-06-22. Retrieved 2019-02-06.
  36. ^ reea; reescu (2015-01-12). "UNICEF and Romgaz support children to go to school". The Romania Journal. Retrieved 2019-02-06.