Hungary has started talks with Romania to purchase natural gas from the Black Sea, in the context of plans to reduce dependence on imports from Russia.
Budapest is negotiating with Romania the purchase of natural gas from the Neptun Deep field, whose development is planned to start in 2027, reports the publication Szabat Magyar Szo.
According to the Hungarian Minister of Economy and Energy, István Kapitány, the parties have discussed the necessary measures for Hungary to be able to receive gas from the Black Sea. The two countries plan to agree on commercial terms and ensure the necessary pipeline capacities.
Also, Budapest intends to develop cooperation in this field with Croatia.
Why Hungary wants to buy gas from Romania
The Hungarian Foreign Minister, Anita Orbán, announced last week her country's intention to stop importing Russian gas by the autumn of 2027.
Starting January 1, 2027, the European Union will enforce a ban on the supply of Russian liquefied natural gas under long-term contracts, and from September 30 — a ban on gas transported through pipelines.
Hungarian Prime Minister Péter Magyar stated that gas purchases from Russia no longer offered the country a price advantage. According to him, contrary to previous government claims, there is no longer cheap Russian gas. The price of this fuel also depends on exchange rates.
Magyar believes that diversifying supply sources will allow Hungary to obtain more favorable tariffs for gas transit. The previous government, led by Viktor Orbán, opposed giving up Russian fuel, justifying its position by its low cost.
First gas from Neptun Deep expected in 2027
According to the international agency Fitch Ratings, Romania could become the largest natural gas producer in the European Union, based on its own resources, once exploitation of the Neptun Deep field in the Black Sea begins.
The project is being developed in partnership by Romgaz and OMV Petrom, each company holding a 50% stake.
Fitch notes that work advanced significantly in 2026. The Neptun Alpha production platform was installed in the Black Sea, the 160-kilometer submarine pipeline to Tuzla is completed, and seven of the ten production wells have been drilled.
According to the Neptun Deep project schedule, the first gas is expected to be extracted in 2027, with annual production at full capacity estimated at approximately 8 billion cubic meters.
The total investment in the development of the project is about 4 billion euros.
T.D.