OMV Petrom enters Bulgaria's gas supply market

Romania's major oil and natural gas producer OMV Petrom announced in a note to investors that it is entering the natural gas supply market in Bulgaria, where it is targeting industrial consumers.

With this step, OMV Petrom is creating regional business opportunities for the natural gas expected to flow from the Neptun Deep offshore perimeter in 2027.

"In the last two years, we have consolidated our presence in the Romanian market and started expanding in the region. Bulgaria is a natural step, considering the proximity and the fact that we are already present on this market with the network of OMV stations and with exploration operations in the Black Sea," said Franck Neel, member of the OMV Petrom board, responsible for Gas activity and Energy.

OMV Petrom Gas & Power representative in Bulgaria, Angel Yankov, announced plans to become a reliable partner for natural gas customers in Bulgaria, with customized and flexible offers.

The Romanian energy group OMV Petrom is already active in the fuel retail market in Bulgaria but is also the operator of the Han Asparuh offshore natural gas perimeter in ​​Bulgaria's Black Sea territory.

Until reaching the gas production phase with Han Asparuh, however, OMV Petrom will start from 2027 to extract gas from the Romanian Neptun Deep perimeter, where it is a partner with Romgaz, the largest domestic producer of natural gas.

OMV Petrom is active along the entire natural gas value chain, from production and processing to marketing and supply. The company is the second-largest producer of natural gas in Romania, with a production of 3.3 billion cubic meters in 2023. Through its own production and supply contracts, the company covered approximately 40% of the gas consumption in Romania in 2023.

(Photo source: Sasa Maricic/Dreamstime.com)