Romania's integrated energy group OMV Petrom signed a contract for the purchase of natural gas with BOTAŞ, the national oil and gas company of Turkey.

The contract was signed for a period of 18 months, starting October 2023 and allows for the supply of up to 4mn cubic meters per day, the equivalent of 1.5bn cubic meters per year.

OMV Petrom's natural gas production dropped to under 3.5bn cubic meters in 2022, from over 4.8bn cubic meters in 2018. It expects a recovery in gas production after 2027 when the offshore perimeter Neptun Deep begins production.

"Through the contract signed with BOTAŞ, we ensure access to a new source of natural gas for Romania, and we contribute to the consolidation of the country's energy supply. In addition, the memorandum will enable the diversification of LNG access to Romania," explained Franck Neel, member of the OMV Petrom Executive Board, responsible for the Gas and Power activity.

The gas will be delivered outside Turkey at the Malkoclar/Strandja point. The main destination market for the gas is Romania.

At the same time, the two companies will expand their collaboration through a memorandum of understanding in the field of LNG.

(Photo: Sasa Maricic/ Dreamstime)

iulian@romania-insider.com