A transaction of strategic importance

The Romanian state-owned company Romgaz bought on Tuesday, with one billion Euros, the 50% stake of the American company ExxonMobil in the ʹNeptun Deepʹ exploitation project in the Black Sea, which contains about 100 billion cubic meters of natural gas. Romgaz will collaborate with OMV Petrom, which is also part of this strategic project for Romania, which wants to become independent from an energy point of view, and also to produce energy for its neighbors and partners in the European Union. The first amounts of gas from the ʹNeptun Deepʹ perimeter could enter the consumption network in almost five years. However, before the start of gas extraction from the Black Sea, investors are waiting for the amendment of the offshore law, which is already in Parliament for debate and approval. The current version seems to be more balanced for both the State and the interested companies than the law passed four years ago.

Roxana Vasile, Radio Romania International