ROMGAZ: Transmission framework agreement for transportation of natural gas to be produced from Neptun Deep through the National Transmission System

S.N.G.S.A. concluded transmission framework agreement for transportation of natural gas to be produced from Neptun Deep through the National Transmission System. The agreement was concluded for September 2026-September 2042.

Original Press Release:

March 16 -- ROMGAZ S.A. issued the following news release:

S.N.G.N. ROMGAZ S.A. informs that its subsidiary ROMGAZ BLACK SEA LIMITED, concluded today, March 16, 2023, a transmission framework agreement for transportation of natural gas to be produced from Neptun Deep through the National Transmission System.

The transmission framework agreement was concluded with the national gas transmission system operator, SNTGN TRANSGAZ SA, following the successful completion of an incremental capacity booking process in compliance with procedures approved by the National Energy Regulatory Authority.

According to the agreement, the required technical capacity is booked for acceptance in the National Transmission System, allowing natural gas from Neptun Deep block to enter the market. The agreement was concluded for September 2026-September 2042.

S.N.G.N. ROMGAZ S.A. CEO, Mr. Razvan POPESCU, states: “Signing the contract is an important milestone for the development of Neptun Deep Project, the document being, among others, one of the conditions required to implement both offshore investments and investments for the development of the gas transmission infrastructure required to take over the gas quantities to be produced in Neptun Deep block”.

About ROMGAZ

S.N.G.N. ROMGAZ S.A. is the largest natural gas producer and the main supplier in Romania. The company is listed on Bucharest Stock Exchange and GDRs are traded on London Stock Exchange. The majority shareholder is the Romanian State owning a 70% stake. The company has a vast experience in the field of gas exploration and production, with a history that began in 1909 and spans more than 100 years. ROMGAZ undertakes geological exploration with the aim of discovering new gas reserves, produces methane by exploiting the reservoirs included in the company’s portfolio and stores natural gas in underground storages; it performs well interventions, workover and special operations, and ensures technological transportation professional services. In 2013, ROMGAZ extended its scope of work by taking over Iernut thermoelectric power plant, becoming electricity producer and supplier.

[Category: Energy Equipment & Services, Oil & Gas Exploration & Production, Oil & Gas Refining & Marketing, Procurement and Sales]

Source: ROMGAZ S.A.