In the first nine-months last year, the natural gas supplier reported net profit of 442 million lei and revenues of 2.38 bln lei. “Our performance to date compared to a year ago reflects the reduction of natural gas demand”, the company said.

Overdue accounts totaled 67.9 million lei at the end of September from 110.9 million lei reported in 2008. “The lower level of receivables is due to the fact that Romgaz has agreed on a debt deferment with its clients with financial hardships”, Romgaz said.

Romgaz is 85.01% controlled by the Ministry of Economy, the remaining equity being held by Fondul Proprietatea. Romgaz supplies a third of the country’s natural gas consumption.