Romgaz Group recorded a consolidated net profit of RON 1.24 billion in Q1 2024, 28% higher than in the same period last year, according to data sent by the Bucharest Stock Exchange (BVB).

According to the source, Romgaz reported a turnover of RON 2.27 billion, down 21.86% compared to the same period in 2023, as a result of a 6.68% decrease in gas volumes delivered, an 18.33% decrease in electricity production and a 9.1% reduction in revenues from warehousing and storage services.

However, revenues from the sale of natural gas account for about 85% of the total turnover in Q1 2024, revenues from the sale of electricity – 4.8% and revenues from warehousing and services about 6%.

The estimated national natural gas consumption for Q1 2024 was approximately 35.42 TWh, about 5.5% higher than in Q1 last year.

According to the report, natural gas production recorded in Q1 2024 was 1.29 cubic metres, 4.39% higher compared to Q1 2023.

The amount of electricity produced was 263.832 GWh in Q1, 18.33% lower than the similar period last year (323.04 GWh).

According to the source, of the total consumption, about 5.21 TWh was covered by imported gas, and the difference of 35.42 TWh by domestic gas, to which Romgaz contributed with 13.69 TWh, which represents 33.69% of the national consumption and 38.65% of the consumption covered by domestic gas.

AGERPRES