Romgaz (SNG), the largest producer and the main natural gas supplier in Romania, has budgeted revenues of 5 billion lei for 2019, down from the level of 5.22 billion lei posted last year, and gross profit of 1.1 billion lei, 28% lower than in 2018, according to the income and expenditure budget.

In addition, the company expects similar revenues in 2020 (5.02 billion lei) and in 2021 (5.08 billion lei), according to zf.ro.

As for the gross result, Romgaz is counting on a profit of 1.02 billion lei in 2020 and 964 million lei in 2021. „When preparing the forecast for 2020-2021, we considered the assumptions underlying the 2019 budget fundamentals, demand, market conditions and current legislation on gas delivery prices,” Romgaz said.

Of the total operating revenues, 81% come from the exploitation of natural gas and 5% of electricity. The company has also budgeted total expenses of 3.89 billion lei, up 7%.

Also, the investment program is estimated at 1.2 billion lei, financed entirely from its own sources and oriented towards projects to compensate the natural decline of natural gas production.