EU official energy reports or announcements

OMV to Supply 15 TWh of Romanian Neptun Deep Gas to Uniper by 2027

Jan 8, 2025, 08:03 AM

Austria's OMV has signed an agreement to supply natural gas from Romania's Neptun Deep project in the Black Sea to Germany's Uniper starting in 2027. The five-year contract involves delivering 15 terawatt-hours of gas, equivalent to approximately 1.5% of Germany's 2024 gas imports. Neptun Deep, one of the EU's largest gas fields, holds an estimated 100 billion cubic meters of recoverable gas and is expected to double Romania's annual gas production to 18-20 billion cubic meters. The Romanian government retains preemptive rights over the gas to ensure domestic needs are met before exports. The project is a joint venture between OMV Petrom and Romania's state-owned Romgaz, with OMV holding a controlling stake and Romania owning 50%. Uniper declined to comment on the agreement. This move aligns with the EU's goal to phase out Russian gas imports by 2027, enhancing energy security and reducing reliance on Russian supplies. Production is set to begin in 2027.