Romanian oil & gas company OMV Petrom (BVB ticker: SNP) invested EUR 2.1 million to replace the conventional lighting systems in 345 Petrom filling stations with a new LED based system, the company announced.

The supplier for this contract was local electric equipment producer Electromagnetica (BVB ticker: EMA), which was selected following an international tender performed earlier this year.

”The increase of energy efficiency is an important objective for us, at company level, as well as for Romania and the European Union, which targets a 30% reduction of annual primary energy consumption by 2030,” said Neil Anthony Morgan, member of OMV Petrom Executive Board responsible for Refining and Marketing.

The purpose of the project was to increase efficiency in filling stations by reducing the electricity consumption. In the 345 filling stations the classic lighting system was replaced with LED lighting systems for the shops, roof, car wash and stations perimeter.

According to company estimates, the adoption of LED technology in 345 Petrom filling stations will generate a 50% reduction in the energy consumption used for lighting, respectively an 11% decrease of the total electricity bill of each station.

The company is considering extending the project for the entire Petrom filling stations network. The company runs a total of 545 gas stations in Romania under the brands Petrom and OMV.

OMV Petrom is the largest oil and gas company in Romania, with an annual consolidated turnover of EUR 5.47 billion and a net profit of over EUR 1 billion, in 2013. The company is controlled by Austrian group OMV, which owns 51% of its shares. Petrom shares are traded on the Bucharest Stock Exchange (BVB) with the ticker SNP. The company has a market capitalization of EUR 5.48 billion.

Electromagnetica is a local electric equipment producer, located in Bucharest. The company is also an electricity trader and supplier. Electromagnetica’s main shareholders are its employees. The company had a turnover of EUR 91 million and a net profit of EUR 3.66 million, in 2013. The company is also listed on the Bucharest Stock Exchange and has a market capitalization of EUR 30.6 million (as of November 5, 2014).

Andrei Chirileasa, andrei@romania-insider.com