May 09, 2025 [Yahoo Finance]- Romania’s OMV Petrom has signed a pivotal gas supply agreement with Moldova, ensuring a quarter of the latter’s annual gas requirements, reported Reuters, citing a top Moldovan energy official.
This move is set to bolster Moldova’s energy security amidst efforts to reduce reliance on Russian gas.
Deliveries from the significant Black Sea Neptun Deep project are expected to commence in 2027. OMV Petrom and state-owned Romgaz are the joint stakeholders in the project.
The deal is a significant step for Moldova, particularly in light of its historical dependence on Russian gas and the geopolitical shifts following the conflict in Ukraine.
Romania’s Energy Ministry has confirmed the three-year contract, which taps into the Neptun Deep gas field, estimated to hold around 100 billion cubic metres (bcm) of recoverable gas.
Moldovagaz CEO Vadim Ceban was quoted by the new agency as saying: “In a situation where Moldova’s relations with Russia’s Gazprom have broken down, obtaining gas directly from Neptun Deep increases the reliability of Moldova’s natural gas supply.”
He also noted that the agreement would satisfy 25% of Moldova’s total gas demand, currently at around 3.2bcm annually.
The energy crisis in Moldova’s Transdniestria region has escalated since Gazprom halted gas supplies following the Ukraine invasion. The OMV Petrom deal is thus seen as a crucial step in mitigating these supply issues.
Romania’s Energy Ministry highlighted that the contract with Moldova’s Energocom represents less than 1% of Neptun Deep’s estimated reserves.
Neptun Deep stands as Romania’s largest energy venture in nearly two decades and is expected to double the country’s gas output, potentially making it a net exporter.
In addition to supplying Moldova, OMV Petrom has also secured a five-year contract to provide Germany’s Uniper with 15 terawatt-hours of gas from Neptun Deep.
Both OMV Petrom and Romgaz are set to market the gas independently, although Romanian legislation grants the government pre-emptive rights to the project’s gas under certain conditions.
The recent commencement of drilling at Neptun Deep marks a milestone for Romania, with the Pelican South and Domino fields of the Neptun block in the Black Sea poised to significantly enhance the nation’s gas production.
The Neptun Deep project is not only Romania’s first deep-water offshore endeavour but also the largest natural gas project in the Romanian Black Sea.
It is projected to contribute approximately 8bcm annually to the country’s gas production once it reaches full capacity.
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