Natural gas prices could triple after EU accession

Romania agreed during EU negotiations to increase the price of natural gas from internal production to 270 dollars per 1,000 cubic meters, compared with the present price of 115 dollars.

“We must do something to protect customers who will not be able afford these prices,” said Achim Saul, the deputy general manager of the Romanian gas distributor Distrigaz Nord. He advised that the prices are expected to triple and the acquisition costs will increase significantly.

The price of natural gas, both from imports and domestic production, represents approximately 80 percent of the final price which is paid by consumers, according to Distrigaz Nord officials.

The minister of Economy and Trade, Codrut Seres, stated that the formula used to calculate import gas prices is used throughout Europe and agreed upon by all companies who are party in such contracts. Thus, the price is set by using the international quotes of diesel and fuel oil, corroborated with a discount, and granted in accordance with the contracts maturity and imported quantities.

Bucharest Daily News