Romania accounts for some 10% of Wintershall business

Wintershall-owned companies in Romania posted turnover worth over 700 million euros last year, therefore the operations in this country contributed more than 8.4% of the global sales of the German petroleum and gas company. Wintershall”s business in Romania is mostly made up of gas imports from Russia, complemented over the last few years by the start of gas production in partnership with the local company Romgaz Medias, as well as by the development of its own network of local distribution. “We sold a higher amount of gas than in the previous year. The (2005) figure exceeds 700 million euros,” stated Rainer Seele, a member of Wintershall”s board of directors. “In terms of diversifying gas supplying sources in Romania, I don”t see liquefied natural gas (LNG) as a solution,” Seele added. He advocated supplementing gas sources by imports and by investments used to increase the subterranean gas storage capacity. ZF