{"id":15172,"date":"2014-10-27T14:24:13","date_gmt":"2014-10-27T12:24:13","guid":{"rendered":"https:\/\/add-energy.ro\/victor-ponta-announced-the-possibility-for-the-state-to-give-up-control-of-transgaz\/"},"modified":"2014-10-27T14:24:13","modified_gmt":"2014-10-27T12:24:13","slug":"victor-ponta-announced-the-possibility-for-the-state-to-give-up-control-of-transgaz","status":"publish","type":"post","link":"http:\/\/add-energy.ro\/en\/victor-ponta-announced-the-possibility-for-the-state-to-give-up-control-of-transgaz\/","title":{"rendered":"Victor Ponta announced the possibility for the state to give up control of TRANSGAZ"},"content":{"rendered":"

\n\t \n<\/p>\n

\n\tTransgaz<\/span> and<\/span> Transelectrica<\/span> strategic<\/span> companies are<\/span> responsible for the<\/span> safety of<\/span> the national energy system<\/span>.<\/span> In<\/span> addition,<\/span> companies<\/span> that hold<\/span> a natural monopoly<\/span>,<\/span> the only<\/span> owner<\/span> of<\/span> the electricity transmission<\/span> licenses<\/span> or<\/span> natural gas.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tHowever<\/span>, Prime Minister<\/span> Victor<\/span> Ponta<\/span> believes the state<\/span> should not remain<\/span> with<\/span> the majority<\/span> 58<\/span>% stake<\/span>,<\/span> which can<\/span> reduce their<\/span> participation<\/span> to<\/span> be attracted<\/span> for new private investors<\/span>.<\/span> Please note that<\/span> at this time<\/span>, the government<\/span> owns<\/span> 58.5<\/span>% of shares<\/span>, the rest<\/span> being at<\/span> private shareholders<\/span>.<\/span> See what<\/span> could be<\/span> the pros<\/span> and cons of<\/span> quitting<\/span> asbolut<\/span> state<\/span> control<\/span> over a<\/span> strategic<\/span> company<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tPros<\/span><\/strong><\/span>\n<\/p>\n

\n\tAs<\/span> shown<\/span> in<\/span> several rows<\/span>, the state<\/span> is a bad<\/span> manager of<\/span> public companies<\/span>.<\/span> Instead,<\/span> private investors<\/span> would<\/span> have an incentive<\/span> to make a profit<\/span> as possible,<\/span> and<\/span> to achieve<\/span> such an objective<\/span> would call<\/span> certainly<\/span> good management<\/span>.<\/span> It would also<\/span> be much less<\/span> influenced by<\/span> political decisions.<\/span> The company<\/span> might<\/span> develop<\/span> more effective<\/span> and would<\/span> be able to<\/span> increase<\/span> investments<\/span>, which<\/span> the national economy<\/span> would be a<\/span> plus.<\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tCons<\/span><\/strong>\n<\/p>\n

\n\tTRANSGAZ<\/span> is a company<\/span> of wich depends<\/span> very much<\/span> the nationwide safe<\/span> energy system<\/span>.<\/span> In crisis<\/span>,<\/span> private investors<\/span> would be<\/span> those who would<\/span> make the decisions<\/span>,<\/span> not the state<\/span>.<\/span> Basically,<\/span> national interest<\/span> would<\/span> learn<\/span> from<\/span> their<\/span> hand<\/span>, even<\/span> if the state<\/span> has<\/span> the biggest<\/span> stake<\/span> of<\/span> all shareholders<\/span> individually.<\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tAssuming<\/span> that it would take<\/span> a package of<\/span> 49<\/span>%<\/span>, there may be<\/span> some situations<\/span> in which all<\/span> private shareholders<\/span> will ally<\/span>, forming<\/span> 51<\/span>%<\/span>,<\/span> to<\/span> take decisions<\/span> contrary to the<\/span> rule<\/span> in<\/span> AGA<\/span>.<\/span> We can mention that the<\/span> privatization<\/span> of majority stakes<\/span> in<\/span> energy companies<\/span> was even<\/span> the subject of<\/span> discussion<\/span> in<\/span> CSAT<\/span>,<\/span> on<\/span> September 25, 2007<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tOn that occasion<\/span>, President<\/span> Traian<\/span> Basescu<\/span> said<\/span> the state must<\/span> retain<\/span> a majority stake in<\/span> companies<\/span> considered strategic<\/span>.<\/span> "I<\/span> thought is<\/span> better for the government<\/span> to keep its<\/span> majority<\/span> in<\/span> units<\/span> such as<\/span> Transelectrica<\/span>,<\/span> Romgaz<\/span>,<\/span> Transgaz<\/span> Conpet<\/span> and<\/span> Oil<\/span> Terminal,<\/span> companies<\/span> that we<\/span> consider<\/span> strategic<\/span>.<\/span> But beware<\/span>, i talk<\/span> of<\/span> keeping the<\/span> majority<\/span>," said<\/span> Basescu<\/span> in 2007<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tGiven that<\/span> there is<\/span> great<\/span> tension<\/span> in the area<\/span> because<\/span> Russia<\/span> controlled release<\/span> seems to be<\/span> opportune<\/span>.<\/span> There may be<\/span> times<\/span> when<\/span> decisions must be made<\/span> to counteract<\/span> any<\/span> games<\/span> of Russian<\/span> gas market<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tAn example<\/span> is the decision<\/span> was in May<\/span> when<\/span> TRANSGAZ<\/span> signed an agreement<\/span> with<\/span> Exxon<\/span> and<\/span> Petrom<\/span> for all<\/span> gases that<\/span> will be produced<\/span> in the Black Sea<\/span> – to enter in the<\/span> Romanian<\/span> transport system<\/span>.<\/span> The agreement was signed<\/span> in<\/span> the conditions in which<\/span> the Austrian company<\/span> OMV<\/span>,<\/span> majority shareholder of<\/span> Petrom<\/span> gas producer<\/span>,<\/span> has agreed with<\/span> Russian<\/span> giant<\/span> Gazprom<\/span> Russian<\/span> South Stream<\/span> gas pipeline<\/span> extension<\/span> to Austria<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tImmediately<\/span> after being<\/span> initialed<\/span> understanding between<\/span> the<\/span> Russian<\/span> and<\/span> Austrian company<\/span>, appeared<\/span> information that the<\/span> gas<\/span> will be exported to<\/span> the Black Sea<\/span>,<\/span> from the moment they<\/span> will start<\/span> their operation<\/span> by<\/span> Russian<\/span> South Stream<\/span> pipeline<\/span>.<\/span> Basically,<\/span> there is<\/span> a danger that<\/span> much of<\/span> the amount of gas<\/span> that<\/span> will<\/span> get<\/span> Romania<\/span> in the Black Sea<\/span> to go<\/span> directly to the<\/span> Russian<\/span> pipeline<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tAccording to some<\/span> estimates,<\/span> there are<\/span> chances that<\/span> the gas production<\/span> from the Black Sea<\/span> to<\/span> be about<\/span> 6 billion<\/span> cubic meters of gas<\/span> per year from<\/span> 2018-2020<\/span>.<\/span> Now in<\/span> Romania<\/span>, the annual production<\/span> is about 10<\/span> billion<\/span> cubic meters,<\/span> the main producers<\/span> being<\/span> ROMGAZ<\/span> TRANSGAZ<\/span>.<\/span> Otherwise<\/span> said<\/span> there are some moments<\/span> when<\/span> the state<\/span> must have<\/span> sufficient<\/span> leverage<\/span> to intervene<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tThe fact that in mai<\/span> TRANSGAZ<\/span>, Exxon<\/span> and<\/span> Petrom<\/span> have<\/span> a certain<\/span> understanding<\/span>,<\/span> does not mean that<\/span> in 4-6<\/span> years<\/span> they will maintain<\/span> understanding<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tThe<\/span> South<\/span> Stream<\/span>,<\/span> Russia wants<\/span> to increase its<\/span> power that it<\/span> has on<\/span> countries that<\/span> import<\/span> gas<\/span> from<\/span> Gazprom.<\/span> EU<\/span> opposes<\/span> attempts<\/span> to expand<\/span> Moscow's<\/span> influence<\/span> in<\/span> the South Stream pipeline<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tMoreover<\/span>, the European Commission<\/span> adopted a<\/span> firm position<\/span> in<\/span> this matter<\/span>, claiming<\/span> she would not<\/span> negotiate<\/span> before the construction of the<\/span> Russian-<\/span>Ukrainian<\/span> conflict<\/span>.<\/span> Even if<\/span> South Stream<\/span> is officially<\/span> blocked<\/span>,<\/span> Russian<\/span> President<\/span> Vladimir<\/span> Putin<\/span> has asked<\/span> its allies<\/span> to act<\/span> "behind the scenes<\/span>"<\/span>.<\/span> Moreover,<\/span> an EU member state<\/span> heard<\/span> urging<\/span> Russia.<\/span> It's<\/span> Hungary.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tHungarian<\/span> Parliament<\/span> has prepared<\/span> a legislative amendment<\/span> that would allow<\/span> the construction of<\/span> South Stream gas pipeline<\/span> on the territory<\/span> of the country<\/span> without the need<\/span> of<\/span> consulting the<\/span> European Union<\/span> or other<\/span> international institutions<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tBut<\/span> it remains to be<\/span> seen how<\/span> "<\/span>obedient<\/span>"<\/span> to be<\/span> and<\/span> the other<\/span> countries with which<\/span> Russia<\/span> has bilateral agreements<\/span> for the construction of<\/span> the pipeline<\/span>:<\/span> Bulgaria<\/span>, Slovenia<\/span> and<\/span> Serbia.<\/span> In September<\/span>, the European Commission<\/span> again urged<\/span> Bulgarian authorities<\/span> to suspend<\/span> work on<\/span> the construction of<\/span> South Stream gas pipeline<\/span>, warning of<\/span> possible<\/span> sanctions against<\/span> Bulgaria.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tSouth Stream pipeline<\/span> project<\/span> involves<\/span> the transport of<\/span> natural gas from<\/span> Russia under the<\/span> Black Sea<\/span> to the countries<\/span> of southern and<\/span> central Europe<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tTRANSGAZ<\/span> is involved<\/span> in<\/span> the pipeline project<\/span> linking<\/span> Romania<\/span> to<\/span> Moldova.<\/span> It is known that<\/span> Moldova<\/span> is<\/span> 100%<\/span> dependent<\/span> on Russian gas<\/span>, and<\/span> pipeline<\/span> Iasi<\/span>-Ungheni<\/span> was built<\/span> precisely to<\/span> there is another<\/span> alternative.<\/span> The second phase of<\/span> the project<\/span> would<\/span> extend<\/span> the pipeline<\/span> to<\/span> Chisinau.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tThis project is not<\/span> just<\/span> to please<\/span> Russia<\/span>, which is why<\/span> a number of<\/span> obstacles<\/span> put<\/span> by<\/span> Moldova transgaz<\/span> transport company<\/span>, controlled by<\/span> Gazprom.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tTRANSGAZ<\/span> monopoly<\/span>.<\/span> There is another<\/span> gas transmission<\/span> company<\/span> in<\/span> Romania<\/span>,<\/span> there is no competition<\/span> in<\/span> this area.<\/span> In<\/span> addition,<\/span> fares<\/span> are regulated<\/span> by the National<\/span> Energy Regulatory Authority<\/span> (ANRE<\/span>) that are not<\/span> established by the Company<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tBasically,<\/span> you can not make<\/span> a comparison between<\/span> majority<\/span> privatization<\/span> of state energy<\/span> companies<\/span> who<\/span> compete with<\/span> the privatization of<\/span> a majority stake in<\/span> a company's<\/span> strategic<\/span> natural monopoly.<\/span> Recently<\/span> the<\/span> stock<\/span> was privatized<\/span> majority<\/span>, 51<\/span>%<\/span>,<\/span> power<\/span> distributor<\/span> Electrica<\/span> SA<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tBut<\/span> Electrica<\/span> SA<\/span> is not the only<\/span> distributor<\/span> in the country.<\/span> There are<\/span> former<\/span> state<\/span> distributions<\/span> following the<\/span> privatizations<\/span> of<\/span> previous years<\/span> were taken<\/span> by ENEL<\/span>,<\/span> E.ON<\/span> and<\/span> CEZ<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tTRANSGAZ<\/span> went through two<\/span> processes<\/span> on the stock exchange<\/span> listing<\/span> of<\/span> minority stakes<\/span>.<\/span> Before<\/span> 2008<\/span>, the state<\/span> owns 85<\/span>% shares<\/span> and<\/span> 15<\/span>%<\/span> Property Fund<\/span>.<\/span> In 2008<\/span>, the state<\/span> sold<\/span> on the stock exchange<\/span> BSE<\/span> a package of<\/span> 10%<\/span> of the shares.<\/span> Then<\/span>,<\/span> in<\/span> 2013<\/span>, the state<\/span> gave up<\/span> another 15<\/span>%<\/span> of the shares.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tIt also<\/span> emerged from<\/span> the Property Fund<\/span> shareholders<\/span> TRANSGAZ<\/span>, selling<\/span> package<\/span> in<\/span> December 2013<\/span> that he held<\/span> 15<\/span>%<\/span>.<\/span> Process<\/span> the transaction<\/span> on the stock exchange<\/span> last year<\/span> was not exactly<\/span> a success,<\/span> given that<\/span> the state has<\/span> collected<\/span> only 72<\/span> million a<\/span> 15<\/span>% stake<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tThe sale price<\/span> of the<\/span> shares was<\/span> 179<\/span> lei \/ share,<\/span> 16%<\/span> less than the price<\/span> of a stock<\/span> is<\/span> traded<\/span> on the<\/span> stock market<\/span> before launching<\/span> the offer.<\/span> In<\/span> addition,<\/span> money earned<\/span> diid not went<\/span> in the company<\/span>,<\/span> but<\/span> in the state budget.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tAt this time<\/span>, the company is<\/span> managed by a<\/span> private management<\/span>.<\/span> If you want<\/span> performance<\/span> as<\/span> PM<\/span> says<\/span> there is<\/span> a lever<\/span> at hand:<\/span> to be left<\/span> to private<\/span> managers<\/span> to develop<\/span> the company<\/span> and eliminate<\/span> any<\/span> inappropriate<\/span> political pressure<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tWe mention that<\/span> Victor<\/span> Ponta<\/span> said<\/span> on Thursday<\/span> at the headquarters<\/span> of Transgaz<\/span>,<\/span> the Government<\/span> should not remain<\/span> with<\/span> the majority<\/span> 58<\/span>% stake<\/span>,<\/span> which can<\/span> reduce their<\/span> participation<\/span> to<\/span> attract<\/span> new investors<\/span> to allow<\/span> private<\/span> company<\/span> to<\/span> develop.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\t"<\/span>If it is<\/span> good<\/span> for the company<\/span> in the future<\/span> to<\/span> develop<\/span>,<\/span> i do not believe<\/span> that the Romanian Government<\/span> must remain<\/span> with 58%<\/span>,<\/span> and it may<\/span> reduce its<\/span> stake<\/span>, we can<\/span> attract new<\/span> private investors<\/span> that will<\/span> allow<\/span> you to develop<\/span> further<\/span>.<\/span>After all<\/span> there are many<\/span> governments<\/span> that hold<\/span> minority stakes in<\/span> companies<\/span>,<\/span> those companies<\/span> are<\/span> developing<\/span> well<\/span>,<\/span> with<\/span> management,<\/span> with<\/span> all<\/span> the standards we<\/span> apply a<\/span> transparent company<\/span> and performance in<\/span> Europe<\/span> of 2014<\/span>, "said<\/span> Prime Minister<\/span>,<\/span> on Tuesday<\/span>.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\t \n<\/p>\n

\n

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\n\t\tTo register your Company as ADD ENERGY PARTNER , please access   \"register_now_2\"<\/a><\/span><\/span> <\/span><\/span> <\/span> <\/span><\/span><\/span><\/span>\n\t<\/p>\n

\n\t\tFor other informations click to \"Contact-Us\"\n\t<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

  Transgaz and Transelectrica strategic companies are responsible for the safety of the national energy system. In addition, companies that hold a natural monopoly, the only owner of the electricity transmission licenses or natural gas.   However, Prime Minister Victor Ponta believes the state should not remain with the majority 58% stake, which can reduce … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[277,32,251,250,80,31],"tags":[],"class_list":["post-15172","post","type-post","status-publish","format-standard","hentry","category-answers-to-your-requests","category-informatii-din-presa-nationala","category-local-press-release","category-news","category-raspunsuri-la-solicitarile-dumneavoastra","category-stiri-utile-noutati"],"_links":{"self":[{"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/posts\/15172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/comments?post=15172"}],"version-history":[{"count":0,"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/posts\/15172\/revisions"}],"wp:attachment":[{"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/media?parent=15172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/categories?post=15172"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/add-energy.ro\/en\/wp-json\/wp\/v2\/tags?post=15172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}