Romanian natural gas transmission system operator, Transgaz, reported a significant increase in its net profit for the first nine months of 2024, reaching 32.1 million euros—a remarkable 324% rise compared to the same period last year.
The company’s operating revenues, excluding balancing and construction activities, grew by 28% to 279 million euros. This financial improvement was largely driven by higher revenues from capacity bookings and commodity transmission.
Despite a reduction in the volume of gas transported, which totaled 99 million MWh—a decline of 4.06 million MWh from the previous year—Transgaz managed to offset this drop by increasing the commodity transmission tariff by 0.1 euros/MWh.
Operating costs, excluding balancing and construction activities, rose by 14% year-on-year to 256.2 million euros. However, the company’s solid revenue growth more than compensated for the increased operating expenses.
On a group level, Transgaz recorded a consolidated net profit of 29.2 million euros, representing a 273% increase from the previous year. The Transgaz Group includes the parent company, along with its Moldovan subsidiaries, Eurotransgaz and Vestmoldtransgaz. Transgaz owns 100% of Eurotransgaz and holds a 75% stake in Vestmoldtransgaz, with the European Bank for Reconstruction and Development (EBRD) owning the remaining 25%.
In August, Transgaz secured a syndicated loan worth 388.5 million euros from five Romanian banks to fund ongoing investment projects under its National Transmission System Development Plan.
The Romanian state holds a 58.5% stake in Transgaz, further solidifying the company’s strategic importance to the nation’s energy infrastructure.
