​Romania imports natural gas during this period, although domestic gas fields are more than 88% full and can cover national consumption with current production. The reason is that imported gas is cheaper than Romanian gas.
Transgaz data analyzed by HotNews.ro show that for at least two weeks, gas flows have been flowing into Romania without being exported.
Thus, as of 12:00 today, domestic gas consumption amounted to 45.9 million cubic meters per day, including: own production – 23.8 million, withdrawal from storage – 18.2 million cubic meters, and import – 3.9 million cubic meters.
Imports are carried out from Bulgaria through the Negro Vode entry point. Previously, it was also imported from Hungary, through the Csanadpalota point.
At the same time, exports are zero, as evidenced by the data of physical flows through the national gas transportation system, that is, the entire imported volume remains in the country.
Market sources told HotNews.ro that this situation arose because imported gas is cheaper than Romanian gas.
This is also the explanation of Transgaz representatives, who showed that Romanian gas is sufficient to cover domestic consumption, but suppliers prefer imports.
Why is imported gas cheaper than Romanian gas?
At the beginning of the cold season, that is, on November 1, the warehouses in Romania were filled more than 100%, or more precisely – 103%, and the Romanian authorities boasted about this success throughout the autumn.
But these gases were stored at a time when the price was higher than now.
On the European Gas Exchange, TTF quotations in the April-October period (storage period) were 45-64 euros per MWh, and now they are at the level of 33-35 euros per MWh.
So our warehouses are full of expensive gas, and we prefer to import cheaper gas.
In addition, there are suspicions that prices are set incorrectly in the gas market in Romania, and ANRE has launched several inspections in this regard.
Read also:Gas reserves in Romania are full, but this does not mean lower prices or independence from imports
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.