Transgaz signed a Cooperation Agreement with the Central European Gas Hub AG on the establishment of Romanian Gas Hub, joint venture to become the operator of the Romanian Virtual Trading Point.

Transgaz published a document on the Bucharest Stock Exchange announcing that they have signed a Cooperation Agreement with the Central European Gas Hub AG on the establishment of a Romanian stock company, “Romanian Gas Hub”, joint venture to become the operator of the Romanian Virtual Trading Point (VTP).

Following to the conclusion of the Agreement, the actions for the incorporation of the new company Romanian Gas Hub will start and it will provide professional gas hub services for Romania (including trading and ancillary services) and shall become the operator of the Romanian Virtual Trading Point (VTP). Note that Transgaz will hold 51% of the shares, while CEGH 49%.

Transgaz states that Romanian Gas Hub aims at the construction of a new vision on the gas market, i.e. the construction of an open, liquid, responsible, closely monitored market allowing for the means to support the vulnerable consumers, solely dispatched in order to prevent emergency crises and fully integrated with the European Energy Union. The Hub entails the redesigning of all gas sector activities for a single purpose, particularly to facilitate gas trading to obtain the most effective gas prices at a certain point in time and to ensure quality services.