On 18 October, Jean-François Cirelli, Chairman and CEO of Gaz de France, signed an agreement in Bucharest for the acquisition of a 51% holding in the Romanian natural gas distributor Distrigaz Sud, in the presence of Adrian Nastase, prime minister of Romania, and Jean-Pierre Raffarin, prime minister of France.

Distrigaz Sud operates a 13,400 km natural gas distribution network in southern Romania and serves around 900,000 business and household customers, notably in the capital Bucharest. It sells around 5.6 billion cubic metres of natural gas annually.

This acquisition significantly strengthens Gaz de France's position in central and eastern Europe, where the Group is already present in Hungary and Slovakia. The deal should be finalized by the end of this year.

“Gaz de France is pleased to have been chosen, by means of a transparent process, to help Romania modernize its gas industry and thereby facilitate the country's future entry into the European Union. We aim to provide Distrigaz with the know-how built up by Gaz de France over many years, in France and throughout Europe. This investment forms part of our industrial project to turn Gaz de France into a truly European company” declared Jean-François Cirelli.

A leading European natural gas company, Gaz de France operates across the world, with particular focus on Europe. It is present along the entire gas chain, in exploration & production, purchase & sale, transmission, distribution and energy services.

In 2003, Gaz de France posted sales of EUR 16.6 billion, and net income of EUR 910 million.

Press contacts :

Alix Griveaud Tel 331 47 54 30 17 - Fax 331 47 54 74 42 / Sabine Wacquez Tel 331 47 54 24 43 - Fax 331 47 54 74 42

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