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Metea (Romgaz): Gas market liberalization is a challenge

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For Virgil Metea, general manager of Romgaz, the liberalization is a challenge. “From a personal point of view, the liberalization is a challenge, perhaps because we have to answer some questions, about how prepared we are, regarding what competition means, what monitoring means and what tax regime means”, said Metea, quoted by Agerpres

Romgaz has paid last year an additional income tax amounting to 291,4 million lei, and this overtaxation might “survive” for a period, as an interim phase after the liberalization of the gas market. According to Metea, with the liberalization of the gas prices, there may be a price seasonality summer/winter, but the most important thing is that, socially, those in need, to be supported by coherent programs, energynomics.ro reads.

“Eventually, for the Romanian consumers, we can say this is inevitable. From my point of view, the most important thing is that, socially, those in need to be supported by coherent programs. I think this how it works all around the world. Everyone goes after the market, but each according to their ability and financial strength can support those vulnerable or those considered as being vulnerable”. Virgil Metea also said that Romgaz could start in 2020 the commercial exploitation of the gases in the Black Sea, and also in 2020, the works on the thermal power plant from Iernut will be completed.

Regarding the 72 lei MWh threshold for the overtaxation of income, Metea says that the overtaxation could withstand “for another period”, although it represents a “counterweight regarding to what the free market means”. And the investments carry on. “Our efficiency and the effectiveness of our investments in the exploration activity is good. All the exploration programs are jointly developed with NAMR (The National Agency for Mineral Resources e.n.). Any success should be shared, because we are very tied together professionally. It would be incorrect to say that we are the only ones who have discovered and others sit and watch. We had a lot. Our rate of discovery is over 70%, which is very good and stimulating for the market. Now we, whenever we had such success, we announced it. For example, we had discoveries at Cris, and in Moldova, somewhere in Frasin, in northern Muntenia, at Caragele, and have been communicated. That includes the discovery at the Black Sea, where we are partners with Lukoil, and given that we had positive results, we wanted to bring into attention the fact that we had a breakthrough there”, said Metea.

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