National Natural Gas Company Romgaz reported a preliminary net profit growth of 4.55% for 2019, at 1.43 billion lei, and a turnover of 5.08 billion lei, up 1.52 %, according to the preliminary consolidated annual report published by the company.

The increase of the turnover comes from the increase by 4.4% of the revenues from the sale of natural gas, both of those from Romgaz production, as well as those purchased for resale, and from associations. At the same time, the advance of the turnover was also generated by the 11% increase in the revenues from storage services and the 115.7% increase in the revenues from the sale of condensate, despite the decrease of the revenues from the sale of electricity by 50.95%, according to Agerpres.

Natural gas production amounted to 5.277 billion cubic meters, decreasing by 56.4 million cubic meters (minus 1.06%) compared to the production made in 2018 and a 1.37% lower than the budgeted production.

At the same time, the investments made by the group decreased to 891.6 million lei, last year, from 1.189 billion lei in 2018. The investment achievement rate is of 64.67% compared to the budgeted one. The level of investments in the new plant in Iernut was of 301.4 million lei, compared with 568.9 million lei in 2018.