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Gas royalties in Romania will no longer be related to Austrian prices

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Staff Writer | July 17, 2018
Romania gas
Energy   One MWh of gas is traded on the Vienna Stock Exchange for EUR 23

The National Agency for Mineral Resources (ANRM) is preparing to change the system: it will abandon the reference price on the Vienna Stock Exchange for the royalties’ formula and will also take into account the differences between the various deposits.

The formula for calculating the royalty for oil resources will be amended by the end of the year, taking into account a reference price on the domestic market (OPCOM and BRM), the counsellor of the ANRM President, Dorin Ursărescu, said.

Early this year, ANRM decided, by an order issued in February, that the reference price for natural gas extracted in Romania would be the one on the Vienna Stock Exchange, informs.

Currently, one MWh of gas is traded on the Vienna Stock Exchange for EUR 23, about RON 107, rather than RON 73.5/MWh, as was the average price recorded in Q2 on the Romanian Commodities Exchange (BRM).

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