OMV Petrom & Transgaz Sign Transport Contract for Delivery of the Natural Gas

Source: 3/16/2023, Location: Europe

The contract will run for a period of 17 years and stipulates capacity booking and providing transport services of natural gas
The value of the contract is 1.4 billion lei (approx. EUR 276 million), based on the transport tariffs applicable at the current date

OMV Petrom, the largest integrated energy company in Southeast Europe, announces the signing of a contract for the natural gas delivery from the Black Sea to the National Transport System (NTS), through the Tuzla entry/exit NTS point.

The contract was concluded for the period September 2026 – September 2042.Based on the transport tariffs applicable at the current date, the value of the contract is estimated at EUR 276 million. The signing of the contract took place after the successful completion of the incremental capacity booking procedure for the Tuzla entry/exit NTS point.

Christina Verchere, OMV Petrom CEO: "Today we took an important step together with our partners. We believe the Black Sea holds a significant potential for natural gas and Neptun Deep is a strategic project for OMV Petrom and for Romania. It is at the core of our Strategy 2030 and will play an essential role for Romania's energy security. We are planning the final investment decision for mid-2023, with the production to begin in 2027."

OMV Petrom became the operator of the Neptun Deep block in August 2022. At the end of 2022, the company submitted the declaration of commerciality for the field. Currently, the company is progressing with the tendering process, permitting and other technical topics.

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