OMV signs pre-contract for gas distribution with Gazprom Exports

EconGas, branch of oil and gas group OMV announced it signed an agreement with the gas distributor Gazprom Export, which has been effective starting April this year.

2013-12-09 17:23:22

According to OMV CEO, Gerhard Roiss, the agreements enables OMV and its subsidiary EconGas to grow its position in the market. Recently, within an interview with OMP Petrom CEO, Mariana Gheorghe, The Diplomat published the company investments plans: Hence, with investments amounting to more than EUR 9 billion on the local market between 2005 and 2012, OMV Petrom, the largest oil and gas group in South Eastern Europe, plans to keep up the pace of business by investing between EUR 800 million and EUR 1.2 billion per year in the next two to three years.

Mariana Gheorghe: OMV Petrom investment sum is unprecedented in Romania, as we are the largest private investor in the country. It is enough to say that a company with significant debts and losses has turned into the largest contributor to the state budget. This tells us a lot about the transformation of OMV Petrom and how it could not have been possible without a significant sum of investments which targeted not only all business segments, but also the people that support all our activities. Approximately EUR 9 billion was invested between 2005 and 2012, meaning about 90 percent of OMV Petrom′s profit, and let me name just a few of the major projects that have made OMV Petrom the successful company that it is now."