The amount of natural gas that will be exported from the Neptun Deep offshore perimeter to Germany represents less than 1% of the total estimated output of the Black Sea deposit, as its estimated gas reserves are over 100 billion cubic meters, the Energy Ministry said in a statement on Wednesday, noting that "Romania has taken up the role of leader in the European energy sector.
OMV Petrom's future export plans to deliver natural gas from the Neptun Deep perimeter after 2027 to a major company in Germany represent a natural step within a project of strategic importance for our country and for Europe. For complete clarification and in order to put to rest all fears, we emphasize that the volume exported to Germany, according to publicly available data, represents less than 1% of the total estimated production of the Neptun Deep field. This is a tiny percentage, as Neptun Deep's estimated resources stand at over 100 billion cubic meters of natural gas. Moreover, these estimates may increase significantly as drilling operations advance. We are making sure that this resource will be used responsibly for the benefit of Romania and its citizens. Each partner in the project, both Romgaz and OMV Petrom, is responsible for its own decisions for the future marketing of the exploited gas, under compliance with the law and with the protection of Romania's energy security," the ministry notes.
According to the cited source, the export is part of the Neptun Deep project business plan and reflects Romania's commitment to contributing to European energy security.
"Helping Europe get rid of the Russian influence on energy resources is a goal we share, in the spirit of European solidarity and the single market. This step reaffirms Romania's position as a regional pillar of the European Union's energy security. Romania is already the largest natural gas producer among the European Union member states, following the increase in Romgaz production in 2024 and the resumption of large-scale exploitation, including in the Caragele area. With a current production of about 8-10 billion Nmc, Romania fully covers its consumption, without depending on imports. From 2027, Romania's annual production will double to 18-20 billion Nmc," the Energy Ministry said, mentioning that in the first year of operation, the Neptun Deep perimeter will produce an amount of gas at least twofold Romania's current domestic consumption.
"In light of this, we can firmly say that there is no danger that the Romanians will be left without natural gas, and Romania is in a privileged position to ensure regional energy security, including that of the Republic of Moldova. Moreover, royalties and taxes on gas exports to Europe are paid in Romania and become revenues to the Romanian state budget," the cited source emphasizes.
"The Romanians can rest assured: the Romanian state has all the levers to make sure that the Black Sea gas will reach Romania first and only the surplus will be sold. In fact, the Romanian state, through Romgaz, owns half of the deposit. I am calling on all political actors not to manipulate and not to engage in misinformation about strategic projects that can bring at least 20 billion euros to the Romanian state," Energy Minister Sebastian Burduja said in the cited statement.
"The conclusion of this transaction is proof that the legal action initiated by OMV Petrom at the Arbitration Court of Paris is objectless. For this reason, I recommend that they drop their claim. The Romanian state will not intervene in commercial transactions between companies unless the country's energy security requires it, but this is not the case now. The Offshore Law, and Article 21 thereof in particular, protects our national interests. (...) This article is a fundamental pillar of our energy independence, and the government I am part of will never compromise on its implementation," Burduja said.
Austrian group OMV has struck a deal with German utility Uniper to supply gas from its Neptun Deep project in the Black Sea starting in 2027, sources familiar with the matter told Reuters.
The five-year deal for 15 TWh of natural gas from the Neptun Deep project, which has not previously been disclosed, comes after Russia last month stopped delivering gas via Ukraine and a broader winding down of European Union energy purchases from Moscow due to its invasion of Ukraine.
The total contract volume represents about 1.5% of Germany's gas imports in 2024 and would be the first deal underpinning the long-awaited deepwater project, more than a decade after gas was first discovered in Romania's section of the Black Sea. Neptun Deep, which is expected to start producing in 2027, holds an estimated 100 billion cubic meters of recoverable gas, making it one of the EU's most significant natural gas deposits.
OMV Petrom, which is majority-owned by OMV, with Romania holding a 20.7% stake, first announced in 2012 that it had discovered 42-84 billion cubic meters of gas in the Black Sea. OMV Petrom and state producer Romgaz, which own the Neptun Deep project in equal proportions, have decided to invest in the Neptun Deep project in 2023.
Production from Neptun Deep will be approximately 8 billion cubic meters per year for approximately 10 years, almost doubling Romania's gas production.
OMV Aktiengesellschaft owns 51.2% of OMV Petrom's stake.
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