Natural gas stored for the winter costs over 400m euros

Distributors will store in Romania for the winter of 2008-2009 an overall volume of 1.65 billion cubic metres of natural gas, the value of due investments standing at some 405 million euros, daily Bursa reports on Sept. 3.
Company E.ON Gaz Romania, part of the German E.ON concern, had in warehouses at the end of July this year, around 550 million cubic metres of natural gas for the winter of 2008-2009, the stock being set to increase to some 750 million cubic metres at the end of the stockpiling process.
Distrigaz Sud company, member of French group Gaz de France, has a programme on natural gas storage of some 900 million cubic metre, which is unfolding over April and October 2008.
Representatives of Distrigaz Sud explained that the natural gas volumes have to represent at least 12.5% of the overall annual selling volume.
Officials of E.ON Gaz Romania told daily Bursa that they hope the final prices for natural gas cover in the near future the acquisition costs. Therefore, the company might retrieve losses and constantly ensure the necessary amount for consumers.
The E.ON management said: ‘’We are fully aware of the effect of prospective price rises onpopulation and we deem the responsible state-owned institutions have to support the  categories of population affected by the price rises. Activating on a competitive market, it is in our and our customers’ interest to ensure natural gas at the lowest possible price, but no company can sell natural gas at a selling price lower than the acquisition price.’’

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