Romanian state-controlled natural gas company Romgaz (SNG) will place a bid for the 50% stake in the offshore project Neptun Deep put up for sale by ExxonMobil on March 31, announced energy minister Virgil Popescu.

"Tomorrow is the deadline […]. Our company, Romgaz, will submit an offer. We want to get natural gas out of the Black Sea. It is a priority for us to make the energy transition from coal to renewable by gas," minister Popescu said, News.ro reported.

The Parliament will adopt a new Offshore Law "aimed at stimulating investment in the sector" by the end of this session, the minister added. He said that there would be a broad consensus in Parliament on amending the law, not only from the ruling coalition lawmakers but also from other lawmakers.

Romgaz is the most valuable state company listed on the Bucharest Stock Exchange, with a market capitalization of EUR 2.58 bln. 

andrei@romania-insider.com

(Photo source: Facebook/Virgil Popescu)