Romanian oil and gas producer OMV Petrom has announced its intention to sell 3.76 million MWh of natural gas on the specialized OPCOM market, for prices between RON 84 and RON 89 per MWh. The company expects to make over EUR 70 million from the sale.

OMV Petrom is selling 100,000 MWh of gas to be delivered in December 2015, and six batches totaling 3.66 million MWh of gas to be delivered next year. The gas comes from Petrom’s internal production, according to the announcement cited by local Economica.net.

In June 2014, Romania’s energy regulator ANCOM ruled that local gas producers should sell at least 20% of their production on the OPCOM market. However, OMV Petrom and Romgaz, which produce most of Romania’s gas, didn’t find buyers on the OPCOM market.

This year, only one gas transaction was closed on the OPCOM market, on October 27, through which gas supplier GDF Suez Romania bought 5,000 MWh at a price of RON 82 per MWh.

editor@romania-insider.com