Current report in compliance with of article no. 82 of Law no. 24/2017

Tue, 07/09/2019 - 12:56

Please be informed by the present Current Report, that ALRO S.A. concluded with the company CONEF GAZ S.R.L. the following transaction whose cumulated value exceed EUR 50,000 (currency exchange rate used by NBR is the one valid on the conclusion date of the legal document subject of the report; the calculated value does not include VAT):

Note:

*This value is found in the value of Addendum no. 18 to contract no. 114/2010, reported in November 02nd, 2018.

** There were no guarantees established.

The Seller can request monthly penalties which shall be calculated as follows:

i. For the monthly consumed quantities which are above the 105% flexibility as compared to the Contracted Quantity, the penalties value shall be as follows:

∑Pen=(Px*110%-Pc)*Qdif where:

∑Pen= the value of the penalties in the consumption month

Pc= Contract Price as per the Contract

Px= Monthly average price in the consumption month, weighted by the traded quantities, related to the day ahead products traded on the short term standardised product markets managed by the Operators of the Romanian centralised markets, whose object is the delivery of natural gas in PVT along the entire gas month for which the penalty was calculated.  

Qdif=difference between the Contracted Quantity and the quantity actually taken as per the minutes of proceedings signed by the Transport Operator for the delivery month.  

ii. For the monthly consumed quantities below the 95% flexibility as compared to the Contracted Quantity, the penalties value shall be as follows:

∑Pen=(Pc-Px*90%)*Qdif where:

∑Pen= the penalties value in the consumption month

Pc= Contract Price as per the Contract

Px= Monthly average price in the consumption month, weighted by the traded quantities, related to the day ahead products traded on the short term standardised product markets managed by the Operators of the Romanian centralised markets, whose object is the delivery of natural gas in PVT along the entire gas month for which the penalty was calculated.

Qdif= difference between the Contracted Quantity and the quantity actually taken as per the minutes of proceedings signed by the Transport Operator for the delivery month.

The Seller/Buyer can request daily penalties which shall be calculated as follows:

i. For the daily consumed quantities which are above the 105% flexibility as compared to the daily Contracted Quantity, the penalties value shall be as follows:

∑Pen=(Px*110%-Pc)*Qdif where:

∑Pen= the penalties value in the consumption month

Pc= Contract Price as per the Contract

Px= Daily average price, weighted by the traded quantities, of the trading day, related to the day ahead products traded on the short term standardised product markets managed by the Operators of the Romanian centralised markets, whose object is the delivery of natural gas in PVT along the entire gas day for which the penalty was calculated.

Qdif= difference between the actual daily consumption as per GMOIS Transgaz platform and the Contracted Daily Quantity.

ii. For the daily consumed quantities which are below the 95% flexibility as compared to the daily Contracted Quantity, the penalties value shall be as follows:

∑Pen=(Pc-Px*90%)*Qdif where:

∑Pen= the penalties value in the consumption month

Pc= Contract Price as per the Contract

Px= Daily average price, weighted by the traded quantities, of the trading day, related to the day ahead products traded on the short term standardised product markets managed by the Operators of the Romanian centralised markets, whose object is the delivery of natural gas in PVT along the entire gas day for which the penalty was calculated.

Qdif= difference between the Contracted Daily Quantity and the actual daily consumption as per GMOIS Transgaz platform.