October 17 (SeeNews) - Romanian natural gas producer Romgaz [BSE:SNG] said on Tuesday it has signed a 103.2 million lei ($26.5 million/22.5 million euro) one-year contract for gas transmission services with the country's Transgaz [BSE:TGN].
The payment was made for services in the October 1, 2017-October 1, 2018 delivery period, Romgaz said in a statement filed with the Bucharest Stock Exchange, BVB.
Romgaz's net profit surged 41.1% year-on-year in the first half of 2017 to 868 million lei on the back of higher gas and electricity sales and lower expenses. Total investments decreased by an annual 3% to nearly 222 million lei in the period under review, or 47% of the company's H1 investment plan of 471 million lei. Romgaz plans total investment of 1.14 billion lei in 2017.
The first-half net profit of Transgaz, the company operating Romania's gas transmission network, rose 42% on the year to 400.9 million lei, while turnover jumped 26% to 1.02 billion lei.
Romgaz shares traded 0.47% higher at 31.8 lei as of 1519 CET on Tuesday, while Transgaz shares changed hands up 1% at 409 lei.
(1 euro = 4.5802 Romanian lei)
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