Five times higher turnover for Congaz

Local natural gas distributor Congaz Constanta is ending 2002 with approximately 240bn ROL (about $7.2 million) in turnover, five times higher than last year, when it logged 42.7bn ROL (approximately $1.5 million). “Our performance this year was ‘on schedule.’ As for 2003, we are planning to keep making investments by ourselves,” Augustin Oprea, Congaz Constanta general manager told Ziarul Financiar. The local distribution operator has major companies as shareholders, such as German Ruhrgas Group, SNP Petrom and Distrigaz Sud, holding 28.6% each, in addition to Petroconst Constanta with 13.9% and the Medgidia, Ovidiu, Kogalniceanu and Cogealac local councils. The turnover boost was due to German group Ruhrgas, which bought into the company in November 2001. Congaz Constanta proceeded to expand the gas supply infrastructure in Constanta City and in the nearby localities, a programme announced as an investment priority this year, along with the development of the intervention and network operation services. ZF