Petrom and Romgaz will forego some €22 mln (RON 80 mln) €26 mln (RON 92 mln) of revenue, respectively. “As far back as one year, we announced our willingness to contribute to a social fund to lighten the burden of persons with lower incomes as the price of gas rises. From the recent increase in the price of gas, Petrom will contribute 100 percent of supplementary income from the sale of gas of current production to third parties,” said Mariana Gheorghe, Chief Executive Officer of Petrom, quoted by the communique.

The Social Gas Fund was established by the government, on the basis of Emergency Ordinance 14/2008, and is destined to offer financial support to consumers with reduced incomes to pay their natural gas bills.

Gas distributors are not obliged to contribute to this fund. Representatives of Gaz de France controlled Distrigaz Sud declared yesterday for Business Standard that although it has no obligation, it is willing to participate in the fund, and awaits an official request from the authorities. E.On Gaz, the second-largest distributor, controlled by German E.On Ruhrgas, announced it will publish its position in the coming days.