Changes at the top of an over 2bn euro-industry

The Romanian gas industry, which is considered a strategic industry in the Romanian economy and brings in revenues in excess of 2 billion euros annually, will this year get new managers for the four largest companies in this field: Romgaz Medias, Transgaz Medias, Distrigaz Sud and Distrigaz Nord.

The acquisition by French company Gaz de France of Distrigaz Sud, the largest natural gas distribution company in Romania, is expected to produce the first foreign manager at the top of a major Romanian gas company, as hinted at by the French company during the signing of the privatisation contract.

The French company is awaiting completion of the deal for the takeover of 51% before announcing what steps will take with Distrigaz Sud.

Besides the expected replacement of Liviu Duinea, the current general manager of Distrigaz Sud, the new heads of the Ministry of Economy and Trade have also made replacements at Romgaz Medias and the national transportation company Transgaz Medias.

According to ministry representatives, Avram Pantelimon has been replaced by Jakab Alexa as general manager of Romgaz Medias, a company that had deals of 456 million euros in 2004.

Gabriel Coconea, considered by many the most influential person in the post-December gas industry, has vacated the position of general manager at Transgaz Medias to be replaced by Florin Muntean, PD deputy for Sibiu. Ministry sources maintain that Economy Minister Codrut Seres plans to keep him close to the ministry leadership, with market talk already mentioning Coconea as a possible secretary of state. Another possible formula sees Gabriel Coconea becoming part of the Nabucco project board for the transit of gas from Iran to Austria via Romania. Transgaz Medias holds a 20% stake in the company, as do the gas shipment firms Botas (Turkey), Bulgargas (Bulgaria), MOL (Hungary) and OMV (Austria). Gabriel Coconea could not be contacted for comment by the time of going to print.

Virgil Metea is the only general manager to be reconfirmed in his position by the new majority stakeholder in Distrigaz Nord, German company Ruhrgas. However, the German company will become directly involved in the management of the company, with new persons being brought in at the management level.
adrian.mirsanu@zf.ro