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News // Oil and gas worldwide

Engie takes over Gazprom’s Wirom gas distribution network in Romania

18 January 2019 , 14:07Neftegaz.RU467

Bucharest, January 18 - Neftegaz.RU. The French energy group Engie will take full control over the Wirom Gas distribution firm that is currently controlled by Gazprom (51.1%) with the rest of 48.8% shares held by Engie.

 

The deal is being analysed by the Competition Council, according to local Profit.ro. In 2017, Wirom reported a turnover of EUR 12.4 million, the highest in the last 10 years. But the company dived into losses area for the 1st time in 10 years as well, with EUR 1 million losses.

 

Engie Romania, formerly GDF Suez Romania, is controlled by the French group with the same name and recorded a net profit of EUR 72.4 million in 2017 and a turnover of about EUR 1.09 bln. The gas distribution business, run through Distrigaz Sud Networks, had a turnover of EUR 270 million.

 

In addition to supplying and distributing gas, Engie is also active on the Romanian market in the production, supply and trading of electricity, it holds 2 wind farms and is active in the sector of engineering.

 

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