Starting January 2026, important changes have been introduced in Romania for holders of gas supply or trading licences by the national energy regulator, ANRE, through ANRE Order 83/2025 (the “Order 83/2025”), which repeals ANRE Order No. 199/2020 approving the regulation for granting permits and licences in the natural gas sector.

In a nutshell, in order to obtain a gas supply or trading licence, applicants will need to file:

• evidence of having financial resources to carry out their activities of at least EUR 200,000 as opposed to the previous regulation (which required financing resources of 25% of the estimated turnover to be achieved in the first 12 months of activity, but not less than EUR 100,000); and
• documentation confirming the employment, under individual employment contracts, of at least three staff members with a minimum of three years’ experience in the natural gas sector (e.g., REVISAL extracts, employment certificates, CVs, or other relevant documents).

Furthermore, ANRE Order 83/2025 provides that current license holders must comply with the above requirements and also provide a list of the offices in Romania where the activities will be carried out as well as the contact points for final customers. Documents certifying compliance with the new requirements must be submitted to ANRE within a maximum of six months from the approval of Order 83/2025.

These new obligations mentioned above may have significant tax implications. In particular, establishing an office in Romania and employing staff locally to conduct supply or trading activities could lead to the creation of a permanent establishment (“PE”), which brings with it exposure to Romanian corporate tax on profits attributable to that presence.

For foreign suppliers and traders holding a license from an EU jurisdiction, which is “passported” in Romania and recognised by ANRE, the regulation may allow continued access to the Romanian market without the need for a local presence, and therefore without PE exposure. For others, however, the new licensing conditions may materially increase the risk of Romanian tax liability.

That said, there may still be structuring options to help manage or reduce PE exposure, depending on how supply and trading operations are conducted. Where a PE does arise, it is essential to manage Romanian tax obligations carefully, including registration, profit attribution, and compliance with transfer pricing rules.

If you would like to explore how these developments may impact your business, our team is available to assist.