Rompetrol Gas, the LPG trading arm of Rompetrol oil group, last year registered turnover worth 117m euros, in the context where the company was set up in July 2006.
With this figure, Rompetrol Gas outruns by far well-established companies on the market such as ButanGas Romania, which last year reached turnover worth around 88m euros, and is targeting the leading position currently held by Petrom LPG, the company resulted after the integration of former Shell Gas Romania's operations with those of Petrom's LPG operations.
The result the company reported last year is three times the level of 2007, even though Rompetrol Gas' number of employees varied very little during the analysed period, from 125 in 2007 to 157 in late 2008.
Turnover increase was based on several factors, including the acquisitions the company sealed last year and operated investments.
"Rompetrol Gas in 2008 further developed its services and products. Factors that helped consolidate and develop operations include the construction of a new LPG bottling station in Arad (an overall investment worth above 10m dollars), the introduction of the first service of delivering LPG cylinders to customers' homes in Constanta, the continuation of the gas cylinder renewal programme (with over 6m dollars being earmarked in 2008)," say Rompetrol Gas representatives.
Beside these investments, the company was involved in two transactions last year that led to the expansion of the LPG distribution network. Thus, last October Rompetrol Gas signed with Crimbo Gas, a business developed by the chief executive of Dinamo football club Cristi Borcea, a five-year rental contract for LPG trading assets held by Crimbo. At the moment the contract expires, Rompetrol Gas will buy these assets.
"(...) Also in 2008, the company entered the market of Moldova by taking over the majority stake in MoldInterGaz," Rompetrol Gas representatives also said.
Petrom LPG, the LPG trading arm of Petrom, set up after the takeover of Shell Gas Romania, last year reported 94m-euro turnover. The company's representatives say the figure would have reached some 50m euros had the integration of Shell Gas Romania operations been valid starting early 2008.
According to the latest information, the domestic LPG market is worth 500m dollars.
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