Page 4 - EurOil Week 12 2023

EurOil COMMENTARY EurOil

Romanian companies prepare

for Neptun Deep gas, plan new

pipeline link

The project will have significant bearing on whether the BRUA pipeline is realised.

ROMANIA ROMANIA’S OMV Petrom and Romgaz have 10-year development plan and is included in the
signed a €276mn natural gas delivery contract European Commission’s Projects of Common
WHAT: with the country’s national gas transmission Interest (PCI). In 2019, Transgaz announced
OMV Petrom and Romgaz company, Transgaz, covering a 16-year period, that $1.9bn would be invested in Romania’s gas
have signed a gas from September 2026 to September 2042, See- transport systems over the next 10 years.
delivery contract with News reported on 17 March. The value of the Romgaz said in a separate statement to the
Transgaz for supplies contract is based on the transport tariffs appli- stock exchange that subsidiary Romgaz Black
from the Neptun Deep cable at the current date, the agency said, refer- Sea had concluded a transmission framework
project. ring to a statement OMV Petrom filed with the agreement with Transgaz for the transportation
Bucharest Stock Exchange. of natural gas to be produced from the Neptun
WHY: The agreement calls for Transgaz to construct Deep offshore project to the national transmis-
The project, years behind a new 308 kms gas pipeline from Tuzla, on the sion system, SeeNews said.
schedule, now has new Black Sea coast south of Constanta, to Posidor, “The signing of the documents by Transgaz,
momentum thanks to the which is west of Bucharest and the site of the OMV Petrom, and Romgaz is the firm commit-
tightness of the European start of the EU-supported BRUA (Bulgaria-Ro- ment for the development of the Tuzla-Podisor
gas market. mania-Hungary-Austria) interconnector gas gas pipeline and for the [Neptun Deep] final
pipeline. investment decision estimated at €4bn, expected
WHAT NEXT: The pipeline is expected to cost €478 mil- in the summer of this year,” Romanian Prime
The transport contract lion. Transgaz will open a construction tender Minister Nicolae Ciuca said in a televised state-
covers supplies between for the project later this month and it will close ment, SeeNews reported.
2026 and 2042., in late April. The project is part of Transgaz’s Once an important oil and gas producer,

P4 www. NEWSBASE .com Week 12 22•March•2023