OMV Petrom S A : enters the liquefied natural gas distribution market

OMV Petrom enters the liquefied natural gas distribution market

• LNG (liquefied natural gas) provides a cleaner mobility alternative with emissions of up to 15% less CO2, 50% less nitrogen oxide, and also 50% less noise compared with diesel trucks¹

OMV Petrom, the largest energy company in South-Eastern Europe, has obtained a license to commercialize liquefied natural gas, thus diversifying its activities on the gas market and related products.

Franck Neel, member of the OMV Petrom Executive Board, responsible for Downstream Gas: 'OMV Petrom's entry on this market is a natural development. We believe that natural gas plays an essential role in the energy transition of Romania, especially due to the fact that we can access these resources. Natural gas has multiple applications in power production, transportation and industry, and can also contribute to reducing emissions and strengthening energy security. And liquefied natural gas represent a cleaner solution for the mobility sector.'

Following liquefaction, natural gas can be safely stored and transported on very long distances, with a high degree of economic and energy efficiency. The liquefied natural gas can be used in the mobility sector as an alternative to conventional fuels, providing a cleaner alternative with emissions of up to 15% less CO2, 50% less nitrogen oxide, and also 50% less noise compared with diesel trucks.

Liquefied natural gas is also a solution for the supply of the areas that are not connected to natural gas transmission networks. In terms of industrial uses, the liquefied natural gas can be utilized as energy source, providing added efficiency and operability.

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53 million boe in 2020. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 790 filling stations, at the end of March 2021, under two brands - OMV and Petrom.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, Fondul Proprietatea holds 7%, and 21.4% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with contributions of approximately 32 billion euro in taxes and dividends paid between 2005 and 2020. Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2020, the company has allocated approximately 72 million euro to develop communities in Romania, focusing on environmental protection, education, health and local development.
On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.

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^[1] Sources: Thinkstep, EMPA, Volkswagen, Equilibre