The shareholders of state-controlled Romgaz, the largest gas producer in the country, were expected to vote on the company's development strategy for the period 2021-2030.

Romgaz's strategic objectives are to reduce emissions of carbon, methane and other gases by at least 10% (by 2030 compared to 2020), an annual decline in gas production of less than 2.5%, an EBITDA operating profit margin between 25 - 40% and a ROACE rate (return on invested capital) of at least 12%, Economica.net reported.

Regarding the first strategic objective, Romgaz envisages, among others, the "production of energy from renewable sources."

The company targets a total installed capacity of 180 MW in photovoltaic parks. Of this, 60 MW should be operational by 2023.

The strategy also envisages "the production of electricity and heat in a cogenerative system, including the use of green hydrogen, shares held or capacity reservation." Romgaz analyzes the possibility of CO2 storage under the project "Analysis of the feasibility of carbon dioxide injection in depleted gas fields, in the perspective of providing storage services."

(Photo: Romgaz Facebook Page)

andrei@romania-insider.com