August 7, 2014 / 11:11 AM / 5 years ago

Romania gas producers to trade half of their output on bourse

BUCHAREST, Aug 7 (Reuters) - Romanian gas producers will have to trade half of their output on the bourse from 2015, energy regulator ANRE said on Thursday.

The government this year approved an ordinance which states ANRE will allot a certain gas production quota to be traded by producers and suppliers on the bourse each year until 2018.

Romania is deregulating power and gas prices in stages until 2018. More than 8 million Romanians and some industrial consumers pay electricity and gas prices set by ANRE, which are generally capped below market levels.

The quota to be traded on the competitive market for this year was set at one-fifth of producers’ output.

“We believe we can set a percentage of 50 percent of gas made available ... on the competitive market,” ANRE head Niculae Havrilet told an energy seminar.

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. (Reporting by Luiza Ilie; editing by Radu Marinas and Jason Neely)

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