Annual rank32
Romania · Energy
Transgaz
Operates Romania's national natural-gas transmission system and manages domestic and cross-border gas flows.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
A gas network managed hour by hour
Transgaz is Romania’s independent transmission-system operator, not a producer or supplier of the gas it moves. It operates the state-owned National Gas Transmission System under concession, balancing and dispatching flows through a network that reached about 14,334 km after Tuzla–Podișor entered service in January 2026. Through its group, it also runs Moldova’s transmission system; it has tested hydrogen blending, while planned hydrogen routes remain conceptual.
Inside the control room
The network is also a pressurised national buffer
Romania’s radial-ring network works at 6–63 bar. Transgaz contracts capacity, meters quality, dispatches flows and balances the system; it operates public-domain assets under concession rather than owning the transmission assets. Dispatchers also watch line pack, the gas already compressed inside the network. Transgaz currently defines 92–95 million standard cubic metres as optimal; below 80 or above 100 million is an alert.
- Read the operator boundary State assets, concession, dispatching and 2025 system components
- Trace the radial-ring system Pressure range, entry and exit flows, and regulated access
- Watch the line-pack bands The gas inside the network and optimum-to-alert ranges
- ▶ VideoWatch the network film First-party visual orientation; current facts use dated reports
Live European connections
BRUA Phase 1 is live; later corridor capacity is not
The Bulgaria–Romania–Hungary–Austria (BRUA) Phase 1 project, including compressor stations at Jupa, Podișor and Bibești, was completed in 2020. The name describes a bidirectional corridor, not one continuous Transgaz-owned pipe to Austria. At Csanádpalota, Transgaz and Hungary’s gas transmission operator FGSZ agreed an increase in technical capacity to 320,000 m³/h in both directions, effective from 1 April 2026. Further compressor works and the south-to-north Vertical Corridor expansion remain future projects in the 2026–2035 plan.
- See BRUA Phase 1 completed The 2020 completion record and three compressor stations
- Map the interconnections Named links with Bulgaria, Hungary, Ukraine and Moldova
- Read the April capacity change Csanádpalota increased to 320,000 m³/h in both directions
- Separate live from planned Completed projects, successor expansions and stage labels
Black Sea landing route
A 308.3 km onshore line arrived before the offshore gas
Transgaz completed the Tuzla–Podișor line in 2025 and commissioned it on 12 January 2026: 32.4 km from the shore to Amzacea at 12 billion cubic metres a year, then 275.9 km to Podișor at 6 billion cubic metres a year. Neptun Deep is a separate upstream project owned 50/50 by OMV Petrom and Romgaz; first gas is expected in 2027, so commissioning the onshore link does not mean offshore production is already flowing.
- Follow the onshore route Transgaz documents for the Black Sea shore–Podișor line
- Explore Neptun Deep Upstream ownership, engineering and 2027 first-gas estimate
- ▶ VideoWatch the offshore project English official film on the separate upstream development
- ▶ VideoWatch drilling begin English official film on the first offshore production wells
Group reach and future options
Moldova is operating; hydrogen remains a test and a plan
Through wholly owned Eurotransgaz, Transgaz holds 75% of Vestmoldtransgaz; the EBRD owns 25%. Since September 2023 that subsidiary has operated, maintained and dispatched Moldova’s transmission system, about 1,670 km at end-2025. Transgaz also formed Transport România Hidrogen and completed the ROHYD blend pilot, but the hydrogen corridors in its 2026–2035 plan remain conceptual or under analysis; this is not a live commercial network.
- See the current group structure Eurotransgaz, Vestmoldtransgaz, EBRD and new subsidiaries
- Read Moldova operations in context Ownership, dispatching role and the group network footprint
- See what ROHYD tested Materials, metering and combustion equipment under blending
- Check the hydrogen project stages Conceptual corridors and projects still under analysis
Official profile sources: Object of activity — Transgaz
Current 2026 update
What has changed in 2026?
2026-2035 development plan approval · 21 July 2026
2026-2035 development plan approvallatest official update
4company-specific highlights
+51%2026 stock return · context only
Gas transmitted
Gas transmitted in the Romanian transmission system rose to 53.4m MWh from 46.8m MWh.
Consolidated operating revenue
Consolidated operating revenue before balancing and construction fell to RON 979.5m from RON 1,053.1m.
Profit
Q1 consolidated net profit fell to RON 386.7m from RON 516.6m.
2026-2035 development plan
Shareholders approved the 2026-2035 national gas transmission development plan, updated after public consultation, for submission to ANRE.
Official 2026 sources: SNTGN Transgaz SA Quarterly Report as at 31 March 2026 · 28 May 2026 · Current report: OGMS resolution of 21 July 2026 · 21 July 2026
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 32 | +79% | +137% | +317% |