Gaz de France: We have no limit regarding investments in Romania

Thus, the company would become the first integrated utility supplier on the local market. According to specialists, the minimum investment would be €600 million, if the production is based on natural gas and €1.2 billion if the raw material is coal. “We are ready to invest and we have no limit, except project viability,” Cirelli said.

Distrigaz Sud, the company purchased two years ago by Gaz de France, posted turnover worth €1 bln in 2007.
Gas de France’s strategy targets expansion on the electricity market and consolidating gas storage system. The company aims to own a fifth of natural gas storage capacity by 2012. “We plan to develop in Romania storages in saline cavities. We are examining a partnership with Salrom [Romania’s national salt company]. Talks have just began, we agreed with Salrom to make a feasibility study for this project,” Cirelli said.
The project with Salrom is the first one of this kind in Romania and the third for Gaz de France, after Germany and Britain.
Cirelli confirmed that Gaz de France is interested to participate in the gas pipe Szeged-Arad, which would allow Romania to diversify supply sources with imported gas.