Romania's Romgaz signs 103 mln lei (22.5 mln euro) deal with Transgaz

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)