June 11, 2014 / 11:54 AM / in 4 years

Romanian gas producers to trade part of output on bourse

BUCHAREST, June 11 (Reuters) - Romanian gas producers will have to trade a part of their output on the bourse from July, with gas suppliers expected to join next year, part of wider energy measures approved by the government on Wednesday, Energy Minister Razvan Nicolescu said.

The European Union state’s two largest gas producers are Petrom, majority-controlled by Austria’s OMV and state-owned Romgaz. They account for most of the country’s gas production.

A government ordinance approved on Wednesday states energy regulator ANRE will allot a certain gas production quota to be traded by producers and suppliers on the bourse each year until 2018. The country is deregulating power and gas prices in stages until 2018.

Also on Wednesday, the government approved a plan to exempt large industrial energy users from paying up to 85 percent of their renewable energy costs for 10 years, in abid to avoid the threat of job cuts in an election year. (Reporting by Luiza Ilie; editing by Radu Marinas)

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