Romgaz announces that it has reached an agreement in principle for the takeover of Azomureș. When will the negotiations be completed?
The gas producer Romgaz announced on Wednesday that it has reached an agreement in principle with Azomureș regarding the main commercial terms of the transaction to take over the operational activity of the chemical plant, through a business transfer. Completion of negotiations is expected by the end of the month.
“SNGN Romgaz SA informs the shareholders and investors that, following the negotiations with the representatives of SC Azomureș SA, the parties have reached an agreement in principle regarding the main commercial terms of the transaction, the object of which is the taking over by Romgaz of the operational activity of Azomureș, through a business transfer (Transfer of a Going Concern). The agreement in principle reflects the commercial understanding reached by the parties on the main elements of the transaction, including its structure, the price and commercial mechanisms related to the period between the signing of the contract and the actual completion of the transaction”, announced Romgaz, through a statement sent to the Bucharest Stock Exchange, according to Agerpres.
Romgaz estimates that the completion of negotiations and obtaining the approval of the company's Board of Directors for signing the contract related to the transaction will take place by the end of May 2026 at the latest.
Azomureș is the only chemical fertilizer producer still operating in Romania and, when operating at full capacity, it is the country's largest gas consumer. Romgaz owns 50% of the deep-sea project Neptun Deep, where gas production will start in 2027.
Romgaz had already announced last year that it was analyzing the possibility of taking over Azomureș, a plant that has repeatedly reduced or stopped its activity in recent years due to high natural gas prices.
Bolojan: “One important step to restart the chemical fertilizer industry”
Interim Prime Minister Ilie Bolojan welcomed the announcement in a Facebook post and said saving the complex was one of the important negotiations in recent months.
“We are saving the national chemical fertilizer industry. One of the important negotiations in recent months was about saving Azomureș, through Romgaz. It is an important step to restart the chemical fertilizer industry in Romania, which is essential for agriculture and our economy,” wrote Bolojan.
He claimed that the utilization of Black Sea gas “in the interest of the Romanian economy” can be done more efficiently by processing it in the national industry.
“Using it in the domestic production of fertilizers for agriculture means more economic independence, more stable prices for farmers and, very importantly, saving and protecting jobs in the center of the country,” the interim prime minister added.
According to Bolojan, the actual takeover of the complex would take place in the next “3-4 months”, after obtaining all the necessary approvals.
