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E.ON: Gas in the Black Sea will be more  expensive, but they will strengthen the energy security of Romania


The gas to be extracted from the Black Sea will be more expensive, but they will strengthen the energy security of the country and will allow Romania to start gas export, stated Frank Hajdinjak, the general manager of E.ON Romania, in a press conference organised by the company.

He explained why the price of gas in the Black Sea will be higher than that of the present production.

‘The prices will be higher, this is clear, as the exploitation and production costs in the Black Sea are higher than those on land. But the production in the Black Sea will bring the opportunity to increase the energy independence of Romania and the chance to export gas, as it is clear we will have overproduction of gas in the future. It is a very big opportunity for Romania as regards the energy security and a stabilising factor for the country. We hope that investors in the sector find the support of the Romanian authorities so the investments to take place’ the official of the energy company showed.

Hajdinjak stated that E.ON has already started discussions with the licence owners in the Black Sea to buy gas, saying that there is a long way to the signing of the contracts.

‘From my point of view, the gas production should be sold 100%  on the stock exchange. There is no reason for the gas not to be sold in a transparent way 100% by the producers themselves, not by some selling companies. Although from my point of view would be absolutely wonderful to have 100% of gas transparently sold on the stock exchange’ the E.ON official said.

In February,Sorin Gal, the general manager in the National Agency for Mineral Resources (ANRM) stated that ExxonMobil and OMV Petrom will extract 6 billion cubic metres of gas per year from the block Neptun in the Black Sea, between 2020 – 2021 and Romania will produce as a total 18-20 billion cubic metres of gas annually, if all the projects will be developed in the Black Sea.

At present, in Romania there are extracted almost 11 billion cubic metres of gas per year, and the national consumption is around the same value.

ExxonMobil and OMV Petrom will take  the final decision for investments in the Neptun block this year.