The entry of the third largest gas producer in Romania, Amromco, into insolvency is a very serious signal, which reflects the risks assumed by investors in Romania, told Energynomics, Dumitru Chisăliță, president of the Intelligent Energy Association (AIE).

“It is a very serious signal which, unfortunately, passed very easily, it was not very noticeable in the area of the energy press, not that it was not punctuated, but the analyzes were very thin, given the gravity of the situation. Amromco, however, was the third largest producer of natural gas. It was a company present in Romania for 30 years. It is an alarm signal for some very serious elements that are in Romania. Firstly, the fact that any change in circumstances, whether we are talking about legislation, capping and offsetting laws, changes in the nature of bilateral trade agreements, issues related to what the forecasts and estimates for gas production mean regarding production of gas, or the very old deposits and deposits with a high degree of depletion. So, all these elements, which are omnipresent in Romania and which are treated very superficially, show us how great is the risk, the vulnerability that can exist in the gas production sector,” said Chisăliță.

“We have to keep in mind that this situation in which Amromco found itself was also based on a series of barriers in the investment area – from the perspective of the price of the land, the access to objectives, for maintenance. And from the perspective of legislation, unsustainable for investment. I would also point out a situation that was less visible – a fourth largest gas producer in Romania has virtually escaped insolvency due to the fact that the parent company in Canada has paid off some debts, otherwise it would have been very possible to follow the same fate,” Chisăliță also commented.

Amromco Energy, the third largest producer of natural gas in Romania in terms of extraction volume, after the giants Romgaz and OMV Petrom, a company controlled by the Swiss commodity and energy trader Mercuria, went into insolvency following its own request in this regard, admitted now by the court, Profit.ro reported.