REG - S.N.G.N. Romgaz S.A. - Announcement regarding COVID 19 context

Societatea Nationala de Gaze Naturale Romgaz SAAnnouncement

18/03/2020 07:05

RNS Number : 5872G
  
S.N.G.N. Romgaz S.A.
  
18 March 2020
  
 

March 18, 2020
 
A N N O U N C E M E N T 
 
S.N.G.N. Romgaz S.A. carries out its activity under normal conditions, permanently cooperating with State's authorities in order to decrease the coronavirus's effects
 
Currently, the Company operates as usual and has not experienced any impact related to the pandemic. The Company is focused on reaching the targets set in the budget proposal, even under the current circumstances. The Company cooperates with the authorities and takes all necessary measures to ensure employees' safety and business continuity.
Considering the current situation generated by the Covid-19 pandemic, the Company's management is constantly monitoring the impact on its activity. To mitigate a potential decrease in economic activity which could have consequences on natural gas consumption, on a short term basis, the Company is considering to inject the gas in storages and postpone deliveries towards winter. 
From the production point of view, the Company plans to perform its activities as usual. Should employees get infected in one of the Company's production areas, the Company has alternatives to transfer the activity to areas in the close proximity. Under exceptional circumstances imposed by the authorities, the actual course of action could differ. However, at the time being production activities are governed by normalcy, responsibility and awareness. 
Delays, however, might affect investments, regardless of the Company's will, as the relationship with suppliers is affected by a national state of emergency. Thus, we are witnessing lower activity of contractors or even closures of factories in the countries affected by the pandemic, closed borders, which would make transportation of raw materials and equipment impossible, lower operational activity of companies, lack of contractors' personnel due to isolation or quarantine, logistic limitations generated by the state of emergency.
 
At the present, S.N.G.N. Romgaz S.A. is taking all efforts to mitigate the Covid-19 impact on the Company's activity, as well as to minimize the risk of employees becoming ill. As such, measures to secure employees' safety are constantly being taken, employees having the possibility to work in shifts or at home, and also to run operations under optimal conditions.
 
Given this context, the Company makes a public call to calm and responsibility in order to succed 
in overcoming this crisis situation and to limit to the maximum the negative effects upon the Company's activity and upon the entire economy and it assures the population and the economic agents that it continues its activity the same as before. 
 
 
Chief Executive Officer,
Constantin Adrian VOLINTIRU


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