OMV Group Websites
en ro
OMV Group Websites
OMV and OMV Petrom Websites
OMV Group OMV Romania Petrom Romania Petrom Moldova

OMV Petrom closed the sale of its interest in the gas distribution and supply company Congaz SA

  • OMV Petrom sold its 28.59% interest in Congaz SA to GDF SUEZ Energy Romania SA
  • The sale is part of OMV Petrom’s strategy to exit from gas distribution and supply activities, for end consumers on the regulated market

OMV Petrom, the largest oil and gas producer in South-Eastern Europe, closed the sale of its 28.59% interest in the non-core gas distribution and supply company Congaz SA to GDF SUEZ Energy Romania SA. The sale was approved by the Competition Council.

"The decision is in line with the OMV Petrom strategy to exit gas distribution and supply activities for end-consumers on the regulated market. We will continue to supply gas to our clients on the free market. As for this transaction, we see benefits for all parties, including for the clients of Congaz, considering that the new majority shareholder, GDF SUEZ Energy Romania, already knows the company and has extensive experience in gas distribution and supply", says Cristian Secoşan, member of OMV Petrom Executive Board, responsible for Gas and Power.

The parties agreed not to disclose the transaction value.

This transaction will have a limited impact on the financials of OMV Petrom, considering that Congaz SA’s total sales, respectively assets, represent less than 1% of the corresponding indicators of OMV Petrom.

The interest in Congaz SA was recorded in the OMV Petrom balance sheet as an associated company, being consolidated in the group results by equity method of accounting.

Congaz was established in 1999, with SNP Petrom (currently OMV Petrom) being one of its founders, in order to develop a gas distribution network in the area of Constanţa, along the Black Sea coast. Currently, Congaz operates a gas distribution network of approximately 850 km, with a portfolio of about 55,000 customers within the Constanţa county, in the cities of Constanţa, Medgidia, Năvodari, Ovidiu, Negru Vodă, Agigea, Eforie Sud and Eforie Nord, as well as in the communes of Cogealac, Cumpăna, Lumina, Lazu, Valu lui Traian and Mihail Kogălniceanu.

Prior to the transaction, the company had four main shareholders amounting to 99.71% of its share capital: GDF SUEZ Energy România SA (28.59%), E.ON RUHRGAS INTERNATIONAL GMBH (28.59%), OMV PETROM SA (28.59%) and Petroconst SA (13.94%), while the rest of the holding was held by the local councils of Kogalniceanu, Medgidia, Ovidiu and Cogealac. In 1999, when Congaz SA was created, both SNP Petrom and Distrigaz Sud (the predecessor of GDF SUEZ Energy Romania) were state owned companies.

OMV Petrom
OMV Petrom is the largest integrated oil and gas group in South-eastern Europe, with an annual oil and gas production of approximately 66 mn boe. The Group has a refining capacity of 4.2 mn tons / year and owns an 860 MW high efficiency power plant and a 45 MW wind park. OMV Petrom is present on the oil products retail markets in Romania and neighbouring countries through approximately 800 filling stations.

OMV, Austria’s largest listed industrial company, holds a 51.01% share in OMV Petrom. The Romanian state, via the Ministry of Economy, holds 20.64% of OMV Petrom shares, the Property Fund holds 18.99% and 9.36% is free float on the Bucharest Stock Exchange.

In the last nine years investments for the consolidation and modernization of OMV Petrom amounted to EUR 10 bn. The annual direct, indirect and induced impact of OMV Petrom in Romania’s GDP is around 5%.

Starting 2007, OMV Petrom integrated the principles of corporate responsibility within its business strategy. In this period, the company allocated more than EUR 40 mn for the development of communities in Romania, focusing on environment protection, education, health and local development. Andrei’s School is the main platform for community involvement.

Contact details:

Sorana Baciu, Director Strategy & Investor Relations
Tel: 0040-372-429 082, Fax: 0040-372-868 518