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OMV Petrom and Transgaz sign contract for the delivery of natural gas from the Black Sea to the National Transport System

OMV Petrom, the largest integrated energy company in Southeast Europe, signed a contract with Transgaz for natural gas delivery from the Black Sea to the National Transport System, through the Tuzla entry/exit point.

The contract was concluded for the period September 2026 – September 2042. Based on the transport tariffs applicable at the current date, the value of the contract is estimated at 276 million euros. The signing of the contract took place after the successful completion of the incremental capacity booking procedure for the Tuzla entry/exit point.

“Today we took an important step together with our partners,” commented Christina Verchere, OMV Petrom CEO. “We believe the Black Sea holds significant potential for natural gas and Neptun Deep is a strategic project for OMV Petrom and for Romania. It is at the core of our Strategy 2030 and will play an essential role in Romania’s energy security. We are planning the final investment decision for mid-2023, with the production to begin in 2027.”

OMV Petrom became the operator of the Neptun Deep block in August 2022. At the end of 2022, the company submitted the declaration of commerciality for the field. Currently, the company is progressing with the tendering process, permitting and other technical topics.

The implementation of a transmission infrastructure which allows for the connection of the gas available at the Black Sea shore to the BRUA corridor is a project of vital importance for Romania in terms of energy security and the conclusion of these gas transmission contracts represents the pre-requisite for the development of this infrastructure.

“I would like to stress that we are, for the fourth time in as many years, facing a historic moment for regional and Romanian energy security,” stated Ion Sterian, Transgaz’ Director General. “After the successful completion of the BRUA gas pipeline – phase 1, after the successful completion of the Ungheni-Chisinau gas pipeline, after the completion of the works allowing for the international transmission of gas in reverse flow at all interconnection points and after the start of the Black Sea gas exploitation in the shallow blocks, we are now at the start-up of the Tuzla-Podișor pipeline, which will allow for the Black Sea gas exploited by OMV Petrom and Romgaz to reach the National Transmission System and, implicitly, every locality in Romania that has access to the natural gas network.”

He underlined that Transgaz is prepared to build this pipeline under the same conditions of safety, efficiency and high performance that it has always met with every investment.

“We are ready to hand over, as of 27 March 2023, the site to the winner of the tender
for the execution of the pipeline construction works, which will last until 20-25 April 2023,
depending on weather conditions, to carry out our mission in terms of ensuring Romania’s energy independence and we will fulfil our obligations to the Romanian state authorities, as well as our international obligations with professionalism and dedication,” he added.

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