Euphoria on the stock market at OMV Petrom and Romgaz: the shares increase by 4 and 8% to their maximums and lead the market to a new record one day after the installation of Neptun Alpha, the platform at the center of the most important energy project in the history of Romania. «Everything traded on the two companies comes mainly as a result of the project»

OMV Petrom (SNP) and Romgaz (SNG) shares rose strongly on Tuesday and hit new all-time highs after the installation of the colossal 16,500-ton Neptun Alpha platform in the Black Sea convinced investors, some of them reluctant, that the €4 billion deep-sea gas project is becoming tangible, with production on schedule for 2027 and a higher level for both companies’ businesses. Thus, SNG shares rose by 8% on Tuesday afternoon, to 17.58 lei, and the state company gained 5 billion lei in capitalization, to 67 billion lei. Meanwhile, OMV Petrom rose by 3 billion lei, to 81 billion lei, BVB data shows. Until recently, investors were divided into two big camps regarding Neptun Deep, say the brokers and analysts consulted by ZF: those who bet on the project from the very beginning, even a few years ago, and constantly bought Petrom and Romgaz, respectively those who waited for concrete signals before positioning. And such signals came on Monday, with the installation of the production platform in areas with waters 120 meters deep, a successful test of Romanian engineering. The platform will ensure the processing of natural gases and their direction to the transport infrastructure that will bring them to shore, the companies say. «(Neptune Deep – ed.) is the main reason for SNP and SNG. There are strong increases doubled and significant trading volumes», says Antonio Oroian, broker at Goldring, for ZF. You may also be interested: The installation of the platform convinced the second category of investors, so the pressure to buy and large transactions on these issuers – such as 22 million lei on OMV Petrom and 21 million lei on Romgaz – were positively reflected on the Stock Exchange, where the main BET index appreciated by 2% yesterday afternoon.

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