Romgaz signed a Memorandum of Understanding with Liberty Galati for the establishment of a joint venture company to develop greenfield projects, a new Combined Cycle Gas Turbine Plant (CCGT) and electricity generation units from renewable sources, using both wind and photovoltaic technologies.

The implementation period of these investment projects will be between 3.5 and 4 years.

“This partnership is an example for Romania,” said Adrian Volintiru, general manager of Romgaz. “We thus continue our priorities in the long-term development strategy through which we want to diversify the natural gas capitalization chains at a higher level. The investment is an important one at national level and represents a first step of Romania’s positioning on the map of Europe in green steel production. Such investments lead to horizontal developments of many economic sectors and implicitly a motivation for Romgaz to amplify exploration-production programs.”