Black Sea and regional gas market competition

Regional energy dynamics are shifting as countries prepare for the expected cessation of Russian gas supplies by 2027. Romania is positioning itself as a key player through the Neptun Deep Black Sea gas field, which is projected to begin commercial operations in 2027.

In discussions between Hungary and Romania, Hungarian Minister Istvan Kapitany expressed interest in participating in the procurement and regional distribution of gas from the Neptun Deep project to reduce dependence on Russian supplies. This cooperation would require enhancing transport capacities and establishing new commercial contracts.

Simultaneously, Greece, Turkey, and Romania are competing for market share in Central and Southeast Europe. Greece is utilizing the Vertical Corridor project and LNG terminals to capture supplies, while Turkey leverages an extensive infrastructure network and a diversified portfolio. Romania serves a dual role as both a vital component of the Vertical Corridor for transporting gas to Moldova, Ukraine, Hungary, and Slovakia, and a competitor seeking to fill the regional energy gap via its own Black Sea resources.