State to sell one third in gas suppliers

The Romanian State will directly sell about 30% in the two domestic gas suppliers, Distrigaz Nord and Distrigaz Sud, whereas the strategic investor will come to control the main stake following a capital increase, Economy and Trade minister Dan Ioan Popescu said.

“I cannot tell you the exact percentage that will be sold to the investor, but the stake will be stipulated in the privatisation announcement, which will come out by the end of this week,” Popescu said. He confirmed the privatisation of the two gas suppliers follows the pattern chosen for the two power distributors, Electrica Banat and Dobrogea, whose privatisation is in progress. The privatisation of Distrigaz Nord and Distrigaz Sud, which account for 85% – 90% of the national gas distribution, is estimated at several hundred million dollars, according to officials in the Economy and Trade Ministry.

Private suppliers, such as Congaz Constanta, Gazvest Arad or VitalGaz, are operating locally, following investments worth tens of millions of dollars. So far, the privatisation of gas suppliers has stirred interest from German groups Wintershall and Ruhrgas, Gazprom (Russia), Gaz de France (France) and Enel Gas (Italy). Some of the companies have already picked teams to run for the gas suppliers’ privatisation. Wintershall relies on the juridical consulting services of the law firm CMS Cameron McKenna Cristina Brinzan, while CA IB provides counselling to German company Ruhrgas. It’s been years since both companies began to operate on the Romanian market. Ruhrgas operates through Congaz in the gas trade and distribution, while Wintershall operates in gas trade and production. adrian.mirsanu@zf.ro