Energocom SA said in a press release that gas will be purchased from the strategic Neptun Deep project when it comes online, after 2027.
The Neptun Deep field in the Black Sea covers an area of 7,500 km2. It is located approximately 160 km offshore, in water depths ranging from 100 to 1,000 meters. The exploration, development and production rights to Neptun Deep are held by OMV Petrom and Romgaz, each holding a 50% stake. OMV Petrom is the operator of the project. Development investments will amount to up to EUR 4 billion. The costs are shared equally between the two partners, OMV Petrom and Romgaz.
The reserves of the Neptun Deep field are estimated at approximately 100 billion cubic meters of natural gas, which will help position Romania as the largest natural gas producer in the EU. Deliveries will be made to a virtual trading point (VTP) in Romania, which will ensure uninterrupted natural gas supplies to the Republic of Moldova.
“Energocom has demonstrated that it can supply liquefied natural gas even from across the ocean, and it is now securing supplies from the largest offshore project in the Black Sea, which is due to start production in the near future. Thanks to this long-term contract, we will contribute to the diversification of supply sources and thus to the country’s energy security,” said Energy Minister Dorin Jungietu.
Energocom provided 83.72% of Moldova’s total gas consumption in 2024.
