1.5bn-euro import contract for Distrigaz Sud

The natural gas distributor, which is now held by Gaz de France, will import natural gas from WIEE. The Romanian company is to get 9 billion cubic metres of natural gas from WIEE, a joint venture of Gazprom and Wintershall, over the next seven years. The contract announced by the new French manager of Distrigaz Sud, Bernard Arnaud, indicates a new stage in the relationship between gas distributors in Romania, and the Russian group Gazprom, which supplies one third of Romania”s demand. The value of the contract concluded by Distrigaz Sud could exceed 1.5bn euros, at an average price of 160 euros/ 1,000 cubic metres. “The value of he contract was calculated in line with an indexed price formula related to the trend followed by petroleum product prices. We will buy approximately 1.3 billion cubic metres for an estimated 250-300 million dollars (210-252 million euros) every year,” Bernard Arnaud, Distrigaz Sud general manager told ZIARUL FINANCIAR. “The payments will be made on a monthly basis and will be financed by the revenues derived from sales to the end clients,” Arnaud specified. ZF