Romania aims for top position as EU natural gas producer
OMV Petrom plans billion-euro gas project in the Black Sea to strengthen Romania's energy independence

Romania plans to become the largest natural gas producer in the European Union (EU). Energy group OMV Petrom has been given the green light for a multi-billion euro gas project in the Black Sea. Together with the state-owned Romanian gas producer Romgaz, OMV Petrom plans to invest four billion euros in the development of the gas field over the next few years. The project, named "Neptune Deep", is considered one of the most important natural gas deposits in the EU and is intended to help Romania become less dependent on Russian gas supplies. Production of the gas is expected to start in 2027.
The "Neptune Deep" project covers an area of 7500 square kilometers in the Black Sea and is located at a depth of 100 to 1000 meters. It is estimated that the gas field has a potential of about 100 billion cubic meters of natural gas. The planned plateau production is about eight billion cubic meters per year over a period of almost ten years. However, the project still needs to be approved by the Romanian mineral resources authorities.
OMV CEO Alfred Stern stressed that the "Neptune Deep" project will make Romania the largest natural gas producer in the EU and provide a reliable and secure source of energy for the region. The company expects the project to increase operating profit by half by 2030.
Environmentalists voiced sharp criticism of the project. Greenpeace called OMV's investment in fossil fuels a "crime." They warned of the impact on the climate crisis and biodiversity in the Black Sea. The pipeline connecting the gas field to the mainland runs through a nature reserve, which could cause damage to reefs.
The "Neptune Deep" project was discovered back in 2012, but political delays and the exit of original partner ExxonMobil caused delays. However, the cooperation with Romgaz allowed OMV Petrom to move forward with the project. The gas discovery in the Black Sea, as well as the recently discovered oil and gas deposits, strengthen the company's position in the Black Sea region and Southeastern Europe. OMV Petrom's strategy is to explore for new deposits near existing infrastructure.
