Rompetrol Gas makes LPG acquisition in Moldova

Rompetrol Gas, the LPG (liquefied petroleum gas) division of the Rompetrol group, has acquired the majority stake in ModInterGaz, making its entry onto the LPG market in the Republic of Moldova. Rompetrol is already present on this market with three fuelling stations, according to the company’s website. Rompetrol officials neither specified the value of the transaction or the number of shares that Rompetrol Gas holds in the wake of this deal. According to Rompetrol data, the LPG market in Moldova amounts to around 55,000 tonnes a year, i.e. over nine times smaller than the volume of the local market. MoldInterGaz had a 5% share of the distribution market and a 10% share of the LPG import market. Considering that the local market is put at around 360 million euros, the Moldovan market is worth around 40 million euros. “With this takeover, Rompetrol Gas is entering a fully growing market, worth around 55,000 tonnes a year, which can become a platform for the expansion of LPG distribution to countries where the Rompetrol group is already present on other segments (Georgia, Ukraine, etc),” according to Toma Veron, general manager of Rompetrol Gas.