18.06.2021

Gas production since the beginning of the year – 8 946 774 thcm

Weighted average price of natural gas (resource of June) – 7 200 UAH/thcm excluding VAT (100% prepayment terms)

TTF – 28.28 EUR/MWh ($356)

NCG – 28.26 EUR/MWh ($356)

GPL – 28.25 EUR/MWh ($356)

CEGH – 28.42 EUR/MWh ($358)

Fiscal policy in the gas production industry of Romania

01/03/17

The Verkhovna Rada Committee on Fuel and Energy Complex, Nuclear Policy and Nuclear Safety hosted a round table discussion "Own Gas for Independence: How to Achieve the Goals". Participants: MPs, representatives of the Government, experts, relevant Associations listened to the speech given by the PWC Tax Director, Romania, Andreea Mitirita. In her speech, she pointed out that there are three systems of upstream taxation in the world: income, profit, and a combined system of these two taxes.

In Romania, tax rates in the sector range from 3.5 to 13%. The representative also announced Romania's plans to increase production, which is now at 10 billion cubic meters per year with a decline of 10%. Today, OMV and Exxon Mobile have announced the successful reserves discovery at the Domino block in the Black Sea. It is also planned to provide new licenses by the National Agency for Natural Resources of Romania through new tenders for 28 onshore blocks and 8 offshore Black Sea blocks. In a conclusion, she pointed out the importance for investors of pure, stable and predictable rules in fiscal policy for the production sector and transparent tenders for new concessions.

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