RO minister expects Black Sea gas to flow as soon as next spring

Romania will benefit from one billion cubic meters of natural gas from the Black Sea next winter season, minister of energy Virgil Popescu announced speaking in a TV show at B1TV station, Agerpresreported.

He thus referred to the gas expected to flow from Midia perimeter operated by Black Sea Oil and Gas, where the operations are at an advanced stage, and the investor only expects the Offshore Law to be amended before beginning production.

In January-November 2021, Romania produced 5.8 bln cubic meters of natural gas imported 2.2 bln cubic meters, therefore the supplementary domestic production announced by minister Popescu will most likely diminish the imports - and not turn the country into a net exporter.

To achieve this, the other major perimeter - Neptun Deep, operated by OMV Petrom and ExxonMobil (soon to be replaced by Romgaz), needs to begin production.

Separately, minister Popescu mentioned onshore projects such as Caragele, operated by Romgaz, where the production is expected to begin in 2023.

Caragele perimeter is estimated at about 30 bln cubic meters, and the Neptun Deep perimeter is at 42-84 bln cubic meters. The estimated reserves in the Midia perimeter amount to approximately 20-30 bln cubic meters.

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