Romgaz reports no sales contracts signed for Neptun Deep gas project

Romgaz CEO Răzvan Popescu announced that the company has not yet signed any contracts for the sale of gas to be produced from the Neptun Deep project. Despite the lack of current contracts, the company reports high demand for Black Sea gas and maintains that any future agreements will be conducted transparently in accordance with offshore laws.

The Neptun Deep project remains on schedule, with first production expected in 2027. Key infrastructure developments include the installation of the Neptun Alpha offshore platform in July and the placement of a 160-kilometer main offshore pipeline that will transport gas to Tuzla. Romgaz has invested approximately 7.5 billion lei in the project to date.

Regarding the previous departure of ExxonMobil from the project, former Prime Minister Viorica Dăncilă stated that the company's exit was due to more favorable opportunities in Norway rather than government relations. She suggested that the outbreak of the war in Ukraine may have also influenced the company's decision to shift its focus.