The gas price during the upcoming winter season will be lower compared to last winter as natural gas became cheaper in Romania following the full liberalization of the market, said Romanian Minister of Economy and Energy Virgil Popescu.
Minister Popescu reminded that the natural gas market was liberalized as of 1 July. In addition to this liberalization the Government also changed the obligation of gas producers to sell directly on the gas market with a gas release program. Basically, through this program, the price of gas in Romania at the price of the CEGH exchange in Vienna, the Minister explained. As expected, the supply of gas on the Romanian market is higher than the demand and, obviously, there is a reduction in the price of natural gas, reaching a little below the CEGH price. This means that the Romanian market becomes a functional market and that is why the gas flow is also leaving Romania, not only entering Romania.
