The Neptun Deep project in the Black Sea, poised to become the largest gas production initiative in the European Union, has attracted new buyers, according to operator OMV Petrom SA.
The company, which aims to deliver its first gas quantities from Neptun Deep in 2027, recently signed multiple agreements and also entered into a contract with German utility group Uniper SE, OMV Petrom CEO Christina Verchere, CEO, revealed in an interview with Bloomberg.
The Neptun Deep project is expected to supply gas to Romania and other European countries at a time when the EU is gradually moving away from reliance on Russian energy imports. Europe’s domestic gas production is declining rapidly due to aging reserves, while demand remains steady despite the rise of renewable energy sources.
Verchere emphasized that the gas from Neptun Deep will be competitively priced, even as Europe has committed to increasing imports of liquefied natural gas (LNG) from the US under a recent trade agreement with the Trump administration.
“There’s no need to freeze the product and ship it. We are putting it directly onto the European market, and our operational CO2 footprint is lower compared to that of LNG,” she explained.
At the beginning of this year, it was reported that OMV Petrom had signed a five-year contract with the German group Uniper for the delivery of a total quantity of approximately 1.4 billion cubic meters of gas (15 TWh), starting from 2027, the year when gas production from the Neptun Deep field in the Black Sea is set to commence.
Frimu Ghinea
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