American-backed project could start gas deliveries from Black Sea by the end of this year

Black Sea Oil and Gas (BSOG), a Romanian company backed by US investment fund Carlyle, could start gas deliveries from Romania’s Black Sea section at the end of this year when work on the Midia Gas Development project will be finalized.

French group Engie, one of the top gas suppliers in the Romanian market, has already signed a contract to take half of the gas extracted by BSOG from the Midia perimeter.

The project’s production is estimated at 1 billion cubic meters per year, which stands for about 10% of Romania’s gas consumption.

The gas deliveries from the Black Sea could come at a critical moment for the Romanian energy market, marked by higher gas prices and higher imports from Russian group Gazprom, which could lead to significantly higher bills for household consumers this winter, according to Ziarul Financiar.

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