Daily News for Energy & Environment

Romania: One of the highest prices paid in Europe for Russian gas

Romania pays the highest price in the area for natural gas and the fourth in the European Union and the only source of gas is Russia’s Gazprom, European Commission’s DG Energy report shows.

Romania pays an average wholesale price for natural gas of EUR 18.44/ MWh, which is “an estimate of the natural gas border price imported from Russia between April and July 2017″. It is the fourth highest price in Europe, after Finland (EUR 23.39), hub price, Sweden (EUR 19.56, price for the imported gas from Denmark) and Estonia (EUR 19.69, the price also for the imported gas from Russia).

The import price in Hungary and Bulgaria is lower than in Romania, the Eurostat reference being the same: the Russian gas import price at the border. As regards Bulgaria, the Russian gas had a price of EUR 18.19, and for Hungary the price of Russian gas was EUR 17.91/MWh. The Poles, for which the reference is the hub price, have an import price of EUR 17.08, and the Czechs, for which the DG Energy statistics show two prices: EUR 16.04/MWh – import price through the hub and EUR 15.85 – import price of gas coming directly from the Russian Federation.

Russia exports gas through Gazprom to 20 European countries, mostly through long-term bilateral contracts. Of the countries that import Russian gas, Romania is among the least dependent on the Russian Federation gas, both due to domestic production and the drop in last year’s consumption generated by the collapse of the chemical fertilizer industry. In 2016, Romania imported only 1.48 billion cubic meters of natural gas from Russia, meaning 0.85 percent of all Gazprom’s exports, considering that Petrom and Romgaz produced together 9.5 billion cubic meters.

However, during the winter, imports increase significantly and account for 40 percent of the daily gas consumption, depending on the outside temperature.

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