The fund, set up in 2018 by KazMunayGas International (KMGI) and Romania’s government, said the estimated deadline for the commissioning of the new plant was the end of July 2023.
The new unit for combined production of electricity and heat will use natural gas as its main fuel, of which 25% will come from the technological process of the refinery and 75% from the national network.
The new plant is set to generate approximately 80 MW of electricity, of which about 60-70 MW to fully cover the Petromidia platform’s electricity needs, up to 180 tons/hour of technological steam, and up to 20 MW of hot water for the town of Navodari’s heating system.
The surplus will be sold domestically and will provide additional income for the investment vehicle (SPV) – Rompetrol Energy.
In August 2020, the fund announced that it had selected Turkey’s Calik Enerji as general contractor for the construction of a new cogeneration plant.
Rompetrol Rafinare, which operates refineries Petromidia Navodari and Vega Ploiesti, is majority owned by KMG International, which holds 54.63% directly and indirectly. The Romanian state controls 44.69% of the company.