Romgaz signed loan agreement worth 325 million Euro for the partial financing of the acquisition of EMEPRL shares

Romgaz, the largest natural gas producer in Romania, announced today that it has signed a financing agreement worth 325 million Euro with Raiffeisen Bank. Romgaz will use the loan to partially finance the purchase price that will be paid for all shares issued by Exxon Mobile Exploration and Production Romania Limited (EMEPRL), which holds 50 percent of the rights and obligations related to the Neptun Deep perimeter.

The 325 million Euro loan facility has a maturity of five years and is linked to Romgaz overall financial performance.

Aristotel Jude, general manager of Romgaz, said: “The signing of this financing agreement is necessary to achieve an important objective assumed in the Romgaz Development Strategy for the period 2021-2030, respectively to complete the acquisition of EMEPRL shares holding 50 percent of the rights and obligations related to the perimeter of Neptune Deep. It is a first step that proves our determination to maintain Romgaz as the most important player on the Romanian gas market and to position ourselves strategically in the current geopolitical context. The development and exploitation, as soon as possible, of the deposits with commercial potential from the Neptun Deep perimeter will ensure the addition to the Romanian natural gas production of considerable volumes that will support, without a doubt, the security in the country’s natural gas supply.”

“The 325-million-euro financing agreement we reached with Romgaz is an example of our commitment to support the process of transition to a greener economy, allowing companies to implement their sustainable strategies,” said Catalin Cepisca, Senior Director Raiffeisen Bank. “The transition to a zero-emission energy system is possible with strong energy standards, which ensures security of supply in the region throughout the process. We are delighted to be the main financing bank of the company and we consider that this significant facility is a clear indication of our support for the energy sector,“ he concluded.