According to Minister of Economy and Finance, Varujan Vosganian, the national gas transport company, Transgaz Medias, the electricity transport company, Transelectrica Bucuresti, and hydroelectric energy producer, Hidroelectrica, have scheduled cumulated investments worth over €660 mln next year.

In the natural gas sector, gas producer Romgaz Medias is expecting gross profit of some €25 mln, and the state company has announced a €300 mln investment program for next year. The company’s General Manager, Alexa Iakob, declared that Romgaz Medias is negotiating with two foreign companies regarding the possibility of becoming involved in gas exploitation activities on foreign markets, although she did not give their names.

Ioan Rusu, General Manager of the Transgaz Medias gas transport company, which is scheduled for listing on Bucharest’s Stock Exchange in February 2008, declared that the company has allocated some €120 mln for a variety of modernization/development programs (some RON 370 mln) and rehabilitation and increased securization of the transport system (some RON 145 mln). Rusu refused to provide an estimate on the company’s financial results this year, saying that the rules regarding Stock Exchange listing do not allow him to do this.

According to the Manager of Hidroelectrica, the country’s top electricity producer, Traian Oprea, the company is expecting gross profit this year to exceed RON 100 mln (some €29.5 mln), and turnover of some RON 2 billion (€588 mln).