S.N.G.N. Romgaz S.A. Announcement regarding COVID 19 context (5872G)
March 18 2020 - 3:02AM
UK Regulatory
TIDMSNGR
RNS Number : 5872G
S.N.G.N. Romgaz S.A.
18 March 2020
March 18, 2020
A N N O U N C E M E N T
S.N.G.N. Romgaz S.A. carries out its activity under normal
conditions, permanently cooperating with State's authorities in
order to decrease the coronavirus's effects
Currently, the Company operates as usual and has not experienced
any impact related to the pandemic. The Company is focused on
reaching the targets set in the budget proposal, even under the
current circumstances. The Company cooperates with the authorities
and takes all necessary measures to ensure employees' safety and
business continuity.
Considering the current situation generated by the Covid-19
pandemic, the Company's management is constantly monitoring the
impact on its activity. To mitigate a potential decrease in
economic activity which could have consequences on natural gas
consumption, on a short term basis, the Company is considering to
inject the gas in storages and postpone deliveries towards
winter.
From the production point of view, the Company plans to perform
its activities as usual. Should employees get infected in one of
the Company's production areas, the Company has alternatives to
transfer the activity to areas in the close proximity. Under
exceptional circumstances imposed by the authorities, the actual
course of action could differ. However, at the time being
production activities are governed by normalcy, responsibility and
awareness.
Delays, however, might affect investments, regardless of the
Company's will, as the relationship with suppliers is affected by a
national state of emergency. Thus, we are witnessing lower activity
of contractors or even closures of factories in the countries
affected by the pandemic, closed borders, which would make
transportation of raw materials and equipment impossible, lower
operational activity of companies, lack of contractors' personnel
due to isolation or quarantine, logistic limitations generated by
the state of emergency.
At the present, S.N.G.N. Romgaz S.A. is taking all efforts to
mitigate the Covid-19 impact on the Company's activity, as well as
to minimize the risk of employees becoming ill. As such, measures
to secure employees' safety are constantly being taken, employees
having the possibility to work in shifts or at home, and also to
run operations under optimal conditions.
Given this context, the Company makes a public call to calm and
responsibility in order to succed
in overcoming this crisis situation and to limit to the maximum
the negative effects upon the Company's activity and upon the
entire economy and it assures the population and the economic
agents that it continues its activity the same as before.
Chief Executive Officer,
Constantin Adrian VOLINTIRU
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCEAKDPFSPEEEA
(END) Dow Jones Newswires
March 18, 2020 03:02 ET (07:02 GMT)
SNGN Romgaz (LSE:SNGR)
Historical Stock Chart
From Jun 2024 to Jul 2024
SNGN Romgaz (LSE:SNGR)
Historical Stock Chart
From Jul 2023 to Jul 2024