OMV Petrom filed this year with the International Court of Arbitration in Paris a complaint against the Romanian state related to the regulations regarding the trading of the Black Sea natural gas, government sources told G4Media.ro.

The complaint is also directed against Romgaz Black Sea Limited, OMV Petrom’s partner in the Neptun Deep offshore gas project, according to G4media – although the nature of the complaint is unclear. Most likely, it is related to a provision of the law, which allows the government to temporarily direct part of the gas output, at a regulated price, to households or any other purposes as required by European solidarity mechanisms.

Christina Verchere, OMV Petrom CEO, said as early as July 2022, when the Offshore Law was last time amended, that she asked for additional clarifications from the authorities regarding the regulations. She said the law “brings improvements, but clarifications are still needed regarding the principles of the free market.”

Under a provision of the law, “by way of exception [...], the government, by decision, at the proposal of the Ministry of Energy, may introduce temporary price and sale restrictions for the quantities necessary to ensure the consumption of household customers and producers of heat energy for the population, as well as those necessary to fulfil the obligations resulted from the European solidarity mechanisms provided by European regulations.”

iulian@romania-insider.com

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