Romania expects to produce gas on Black Sea's shelf in mid 2022

WORLD  18 April 2022 - 16:01

Romania expects to extract the first natural gas from fields on the Black Sea shelf in the middle of this year. This was stated by Prime Minister Nicolae Chuca on Monday in an interview with Radio Romania.

“In the Black Sea, we have the opportunity to receive the first gas in the middle of this year,” he said. - The investments [by] Black Sea Oil & Gas have already been made, they have already signed acceptance documents, and there is an opportunity through this project to provide 1 billion cubic meters. metres of gas per year. Black Sea Oil & Gas, headquartered in Romania, is owned by Carlyle International Energy Partners and the European Bank for Reconstruction and Development. ExxonMobil pulled out of the Black Sea Neptun Deep natural gas project due to unfavorable tax conditions and was bought out by the Romanian state company Romgaz.

“At the same time, we will ensure the exploitation of gas fields in the national territory at great depths, and this will provide gas starting from 2024,” the Prime Minister said.

Efforts to accelerate the start of exploitation of its own gas fields are being undertaken by Romania against the backdrop of the military operation of the Russian Federation in Ukraine and calls in the European Union to ensure the energy independence of the EU member states from Russia. On April 15, the ruling coalition of parties in the republic submitted to the parliament a draft of the so-called offshore law, which regulates the conditions for the development of gas fields in the Black Sea. The regulation provides favorable conditions for foreign companies that will be involved in the operation, and is being considered as a matter of urgency.

“As for independence from gas supplies from the Russian Federation,” Chuca said, “we decided that this law will ensure stability and legal predictability for the business environment in this area.”

Caliber.Az