The Neptun Deep project will change the regional dynamics of energy resources, as it will make a larger volume of domestically produced gas available, including for export, Head of the Gas and Coal Markets Division at the International Energy Agency (IEA) Dennis Hesseling said on Wednesday at the Eurogas Annual Regional Conference 2026.
The IEA representative said the Neptun Deep project will change the regional dynamics, as it will make a larger volume of domestically produced gas available, including for export, thus this will, of course, affect the overall regional gas balance, agerpres reports.
According to him, natural gas supplies in Central and Eastern Europe fell significantly in 2022-2023, with Russian gas delivered through pipelines being the main factor.
He talked about the Baltic Pipe, through which Norwegian gas is transmitted via Denmark to Poland, saying it plays a crucial role in supplying the region with gas.
The IEA representative also believes liquefied natural gas (LNG) contracts to be an option.
Dennis Hesseling said that phasing out Russian gas delivered through pipelines requires additional LNG volumes to cover the shortfall, as well as, of course, domestic production. He went on saying that if we were to look at the European regions entering into new LNG contracts, namely the north-west, south-west Italy and Central and Eastern Europe, we could see that activity was very limited in the early years, there is no strong track record of LNG contracting in this region. However, since 2025, there has been an increase in this activity. Of course, gas can reach the region through Croatia, Greece or Poland; such possibilities exist, although this is not always the most direct or cheapest route, it is a viable and necessary option in the absence of other alternatives, Dennis Hesseling added.
Eurogas, in partnership with the Energy Employers' Federation (FPE), is organising the Eurogas Annual Regional Conference 2026 in Bucharest on Wednesday, under the theme "Advancing security, delivering sustainability: Romania's role in building a resilient and competitive energy transition in Eastern Europe."
The conference brings together representatives of European and national institutions, industry representatives and energy sector experts to discuss Romania's role in strengthening the security and affordability of energy supplies in Europe, as well as regional perspectives on the energy transition and industrial competitiveness.
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