Black Sea gas projects will bring USD 26 bln to Romania's state budget by 2040

Investments in the Black Sea oil and gas sector will generate revenues of over USD 26 billion to the state budget by 2040, according to a Deloitte report. These investments will also add USD 40 billion to the country’s GDP in the analyzed period as they will create and maintain an average of 30,000 jobs. The study covers a period of 40 years, starting with 2000 and data used for the analysis was collected from publicly available sources and Deloitte’s own data and panel of experts. The forecast is based on Deloitte Central Europe assumptions regarding the evolution of the Romanian economy, in general, and of the offshore industry, in particular. Black Sea gas project will have a strategic value for Romania as they will enhance the country’s position in ensuring the regional energy security, after firstly securing the domestic natural gas consumption. Some 35% of the production from the analyzed period could be exported, while the difference would cover the decline in the onshore production, in the context of increasing domestic consumption, according to Deloitte. editor@romania-insider.com