Romania will double its gas production and bring EUR 20 billion into the national economy thanks to the Neptun Deep project in the Black Sea, according to energy minister Sebastian Burduja. The statements were made on Thursday, March 27, during a government meeting.
The minister noted that the Neptun Deep project will make use of at least 100 billion standard cubic meters of gas.
"The conservative estimate for the reserves in Neptun Deep is at least 100 billion standard cubic meters. Now, consider that Romania currently produces and consumes 8-10 billion cubic meters annually, and we consume as much as we produce,” the minister said, cited by Agerpres.
“This project means at least EUR 20 billion flowing into the pockets of Romanians and the state budget, and it represents a EUR 4 billion investment - the largest investment in the energy sector. It is 50% OMV Petrom and 50% Romgaz," he added.
Burduja also said that current estimates indicate that gas consumption in Romania will increase by at least 25-30% in the coming years. One reason for the growth is the integration of more homes into the gas network.
“We are also developing large gas-fired power plants to produce electricity. The best example is the Mintia power plant, a massive facility that will become the largest gas-fired power plant in the European Union, with a capacity of 1,750 MW, even larger than the Cernavodă nuclear power plant,” the minister highlighted.
“Additionally, we have the Iernut power plant, at 97% completion, as well as Ișalnița and Turceni, which will add another 1,300 MW in the future. All these power plants will use gas. So, if we double production while consumption rises by 25-30%, we will also have gas available for export,” he said.
According to the official, the natural gas resources will contribute to Romania’s chemical fertilizer production, pharmaceutical factories, and other key industries.
A champion of the Neptun Deep project, the minister attracted the opposition of environmental NGOs in Romania, which have asked for his removal. Burduja had previously asked companies in the energy sector to sue the NGOs and demand maximum compensations for any delay in the development of projects.
Prime minister Marcel Ciolacu instead signaled his support for the Neptun Deep project and minister Sebastian Burduja in the same government meeting, saying that NGOs and “Russian allies” are bothered by the fact that Romania will become a major gas supplier.
(Photo source: Inquam Photos | George Calin)
