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Romania's Transgaz Net Pft Down 5.7% YY To RON224M

Romania's natural gas pipeline operator Transgaz Medias posted a net profit of 224.34 million lei ($90.8 million) in 2007, down 5.7% on the year due to higher expenses, news agency Mediafax reported Tuesday, citing a company statement.
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Τρι, 5 Φεβρουαρίου 2008 - 06:46
Romania's natural gas pipeline operator Transgaz Medias posted a net profit of 224.34 million lei ($90.8 million) in 2007, down 5.7% on the year due to higher expenses, news agency Mediafax reported Tuesday, citing a company statement.

Transgaz, which is part of the Nabucco project, reported a net profit of RON237.91 million in 2006.

It posted RON1.064 billion in total revenue in 2007, compared with RON982 million in 2006.

Romania's President Traian Basescu agreed Monday with France's President Nicolas Sarkozy on the participation of French state-owned utility Gaz de France in the Nabucco project.

The Nabucco pipeline project, which aims to supply natural gas from the Caspian Sea to Central Europe via Romania, bypassing Russia, is owned by a consortium led by Austria's OMV and is expected to become operational by 2011-2012.

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