Romania: ANRM issues order establishing gas reference price be calculated depending on Vienna stock exchange

The National Agency for Mineral Resources (ANRM) issued on Friday the order establishing that the reference price for natural gas extracted in Romania, depending on which the royalty owed by producers to the state budget will be calculated, will take into account the quotations of the Vienna CEGH stock exchange, according to a pres release of the institution.

The order was sent for publication to the “Monitorul Oficial” (Official Journal) and will enter into force starting with its release date.

Thus, the reference price for natural gas extracted in Romania will be calculated depending on the trading prices on the hub of CEGH Vienna, also known as Baumgarten, based on a computation formula achieved together with the Petrol and Gas University in Ploiesti.