Wintershall runs 500 million-euro business in Romania

German oil and natural gas company Wintershall last year made 400-500 million euros from selling natural gases on the Romanian market, Rainer Seele, member of Wintershall AG’s Board of Directors said. Wintershall’s trade in natural gases imported from Russia for the Romanian market is run through WIEE and Wirom Gas, joint ventures it controls together with Russia’s Gazprom. The sales volume of the German distributor is almost higher than that of distributor Distrigaz Sud, the largest Romanian company on this market.

“Our sales in Romania last year reached approximately 4.5 billion cubic metres, given the rise in the natural gas price,” Seele explained. Import of natural gases from Gazprom in 2003 hit record values, following the decline in domestic supply, which meets only 70% of the demand.

The German company, whose net sales amounted to 5.3bn euros worldwide last year, announced it wanted to run businesses for each link of the natural gas market in Romania, from production, import and distribution to building gas storages.

Wintershall is a contender in the race for 51% in Distrigaz Nord, for which it has already submitted a preliminary bid along with four other investors – Gazprom (Russia), Ruhrgas (Germany), Enel (Italy) and Gaz de France (France). The German company is competing on its own, though its chairman, Dutch-born Reinier Zwisterloot, did not rule out the possibility of a partner in taking over the natural gas distributor.

“We are taking part in the privatisation of Distrigaz Nord in Romania. We are capable of going all the way on our own but we may also get some partners in this process,” Zwitserloot said, adding the Russians of Gazprom “would be the partner of choice.”

Gazprom submitted preliminary bids for both Distrigaz Nord and Distrigaz Sud, as the Romanian State will not sell the two distribution companies to the same investor, according to the privatisation announcement. “Romania is a country that will become part of the European market. The big challenge here is not the acquisition of Distrigaz Nord or Distrigaz Sud (by investors i.e.), but the investments in bringing those companies on a par with any other distribution company in West. Romania needs to carefully scrutinise whomever wants to buy the company. It’s true we are potentially interested in Romgaz’s privatisation, as well, that we have plans to establish gas distributors in southern Romania in partnership with Distrigaz Sud or that we want to build gas storages. But how are you gonna eat an elephant? Little by little!” Zwitserloot concluded.

Wintershall will commence natural gas production in Sighisoara in a matter of days, therefore becoming the second private foreign producer on this market.
adrian.mirsanu@zf.ro