Wintershall to invest $ 100 mm bringing Russian gas to Romania

Feb 25, 1997 01:00 AM

Wintershall AG of Germany plans to invest $ 100 million in a project to increase imports of Russian natural gas to Romania by connecting its pipeline network to Ukraine. Under the project, the German firm would build a pipeline to connect a terminal of a gas pipeline in the northern city of Satu Mare to a main pipeline in Ukraine, the Romanian government said in a statement. It said the project was part of Wintershall's moves to strengthen its presence in the Balkan country following the creation of a joint venture with Romania's Romgas RA state-run gas utility more than two years ago."Wintershall plans to extend its businesses in the sectors of gas extraction, transport and storage," the statement said. In December 1995, Romgaz linked up with Russo-German Wintershall Erdgas Handelshaus Gmbh (WIEH) in a joint venture called Wirom Gas SRL to import Russian gas for Romania. Under the deal, Wirom Gas acts as an agent for WIEH to market Russian gas in the country. Romania depends on Russia for most of its gas imports. Romanian gas production has fallen over the past few years and gas imports from Russia amounted to over 8.0 bncm last year.

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