New Strategy Center organized a debate dedicated to Romania’s energy security ”Increasing Romania’s energy resilience and strategic projects in the Black Sea”. The speakers were Mr. Virgil Popescu, Minister of Energy, Mr. Lorant Antal, President of the Committee on Energy, Energy infrastructure and Mineral Resources of the Senate, Mr. Vasile Iuga, independent expert, Mr. Marius Jude, Acting General Manager ROMGAZ, Mr. Alexandru Maximescu, Vice-president OMV Petrom. The debate was moderated by Mr. George Scutaru, CEO of NSC.
The fact that the Parliament enacted, in May, the legislation on offshore gas exploitation opens the possibility of starting the largest energy project in the exclusive economic zone of Romania at the Black Sea so far. The Black Sea gas exploitation will bring Romania about 26 billion USD. The project will be developed by OMV Petrom and ROMGAZ, and will have a positive impact on the newly created jobs. Gases from the Neptune Deep perimeter will be delivered to the internal gas network staring in 2026. Romania’s potential is estimated at 200 billion bcm, which will transform Romania into a big exporter in the region for at least 10 years, as our country will become the largest producer of natural gas in the EU. The exploitation of gas from offshore Black Sea perimeters will have a positive impact in the industry and in developing new technologies, such as hydrogen production. Romania’s energy potential at the Black Sea is also complemented by an important wind energy resource, which will increase even more our country’s regional relevance, especially since the neighboring area is characterized by an acute dependence on energy imports from Russia.