Q3 2023 Societatea Nationala de Gaze Naturale Romgaz SA Earnings Call Transcript
Good afternoon, ladies and gentlemen. Thank you for joining our conference call to discuss the results recorded by the Romgaz Group in the first 9 months of 2023. We published yesterday our quarterly report and a consolidated condensed interim financial statements for the first 9 months period and the third quarter of this year, which presents our economic and financial achievements in this period.
Also, an updated presentation of Romgaz Group is available on our website in the Investors section. I will start with some aspects regarding the gas market context in the first 9 months of '23 compared to the same period of the previous year.
According to our assessment, natural gas consumption in Romania decreased by 12% year-on-year, while gas import dropped to less than half and accounted for 16% of consumption compared to 29% in the previous year. As expected, the Romanian Commodities Exchange recorded weak liquidity as a result of the current regulation in force and the average of wholesale prices was lower by around 35% year-on-year. These prices are
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