Romania's competition body Consiliul Concurentei ruled that the natural gas transport system operator Transgaz must pay a RON 34.2 million (EUR 7 mln) fine, representing 1.85% of the company's 2019 turnover, for irregularities found in connection to procurement procedures carried in 2011.

Transgaz explained that the fine is related to its activity in 2009-2011, before it adopted corporate management principles in line with the government emergency ordinance OUG 109/2011.

In 2019, the company set aside provisions to cover the fine, the company's management explained in a statement.

Transgaz says it will take the necessary steps related to the aspects mentioned in the Competition Council's decision and will initiate without delay all the legal proceedings to defend its interests in relation to this decision.

andrei@romania-insider.com

(Photo source: Transgaz.ro)