The President of Romania, Nicușor Dan, announced on Monday that the Neptun Deep project in the Black Sea is progressing according to schedule, with the first quantities of natural gas expected to be delivered in 2027.
The head of state specified that he had a discussion with the leadership of OMV Petrom regarding the project.
"Today I discussed with Alfred Stern, the President of the Supervisory Board of OMV Petrom, and with Christina Verchere, CEO of OMV Petrom, about the Neptun Deep project," wrote Nicușor Dan on the X platform.
"It is an investment of over 4 billion euros, which will enhance Romania's energy security and reduce our dependence on imports. Neptun Deep will nearly double Romania's gas production and will significantly contribute to increasing the country's energy independence," conveyed the President, emphasizing the importance of the investment.
Nicușor Dan mentioned that the discussions with representatives of OMV Petrom also considered recent developments in the energy market, in the context of tensions in the Middle East. "We discussed, of course, the current situation of the energy market, even though the meeting was scheduled before the outbreak of the war in Iran. OMV Petrom representatives provided me with a detailed briefing on short and medium-term developments, as well as the scenarios they are considering."
He noted that the discussions also covered fuel prices and supply security: "We also addressed the issue of fuel prices and supply security. We agreed on close collaboration and cooperation with the Government to successfully navigate this new period of pressure on energy prices."
According to Nicușor Dan, a potential closure of the Strait of Hormuz would affect countries dependent on oil imports, including Romania: "The closure of the Strait of Hormuz poses major difficulties for all oil and fuel-importing countries. Romania has its own resources, but they are insufficient, which is why we import about 80% of the oil needed for domestic consumption."
The President considers investments in energy and dialogue with stakeholders in the energy sector essential for the future period: "Short and medium-term solutions involve continuing major ongoing investments and maintaining an open and constructive dialogue with the most important actors in the energy sector. We will continue to monitor the situation and take action to protect citizens and the economy."