The total amount that can be extracted from the Neptun Deep block is estimated at 100 billion cubic meters, which as much as Romania uses in about a decade.
To bring out this amount, EUR4 billion investments are required to be made by OMV Petrom (SNP.RO) and Romgaz (SNG.RO), with OMV Petrom being the operator of the project. Neptun Deep gas could first reach the Romanian pipeline network as early as 2027.
Although OMV Petrom has repeatedly said this amount could turn Romania into a regional actor, Transgaz says the export is hypothetical, considering the amount of gas drilled will not be able to meet at least domestic demand as onshore production decreases and consumption increases.
“I’m telling you the Black Sea gas won’t be enough for Romania, either. We will have to import gas,” Ion Sterian said at the Romanian International Gas Conference.
(English version by Loredana Fratila-Cristescu)