SNGR SNGN Romgaz SA

TIDMSNGR

RNS Number : 0459K

S.N.G.N. Romgaz S.A.

16 December 2022

December 16, 2022

A N N O U N C E M E N T

S.N.G.N. ROMGAZ S.A. and SOCAR TRADING , a subsidiary of the State Oil Company of the Republic of Azerbaijan, signed on December 16th, 2022, the first individual contract for gas deliveries from Azerbaijan to Romania. The individual contract allows for scheduled gas deliveries starting with January 1st, 2023, through the Southern Corridor, by using transportation capacities of the TAP and IGB pipelines and of the Bulgarian and Romanian transmission systems. The contract is based on the General Agreement recently concluded between the two companies, with unlimited term.

The signing of this contract ensures the possibility to acquire natural gas quantities from Azerbaijan in order to fulfill the potential consumption needs with import gas. The contract thus serves the strategic objectives of security of supply and diversification of gas sources.

The General Agreement for deliveries of natural gas from Azerbaijan as well as this first individual contract are the result of an excellent cooperation between S.N.G.N. ROMGAZ S.A. and SOCAR, a cooperation initiated at the beginning of this year and formalized by signing a Memorandum of Understanding in June. The parties plan to continue their cooperation relationship and to enhance the mechanisms for natural gas deliveries from Azerbaijan to Romania.

   Chief Executive Officer,                          Deputy Chief Executive Officer, 
   Razvan POPESCU                                   Aristotel Marius JUDE 

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