English
Petrom, the leading oil & gas producer in Southeastern Europe, will exercise their preemptive right on 55.53% in Shell Gas Romania SA and 60% in Trans Gas Services SRL held by Shell. Petrom will therefore acquire Shell Gas Romania SA and Trans Gas Services SRL following Shell"s decision to give up LPG operations in Romania, Bulgaria, the Czech Republic, Germany, Spain and Switzerland. The transaction is pending the sign-off of the related documents with Shell Gas (LPG) Holdings BV and the green light of Romania"s Competition Council, which is likely to come in Q3.
Petrom Marketing Director Tamas Mayer said the acquisition was going to allow the company to consolidate on the Romanian LPG market and synergize with already existing LPG operations in order to increase the current 17% share on the gas canister market and 2% share of the auto gas market.
Petrom leads the Romanian LPG market through a proprietary gas canister market and significant stakes in Shell Gas Romania (44.47%) and Trans Gas Services SRL (20%), a supplier of imported propane. Petrom owns some 600 fuel stations, of which 300 carry gas canisters. Romania"s annual LPG consumption stands at some 250,000 tons.
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