Romania has exercised pre-emption rights over part of the natural gas output from the Neptun Deep project in the Black Sea, securing a defined share of future production from OMV Petrom. Under the agreement, the National Administration of State Reserves will receive around 5 bcm of gas over a seven-year period starting in 2028. This corresponds to roughly 700 million cubic meters per year.
The reserved volumes are expected to represent about 20–25% of OMV Petrom’s annual production from Neptun Deep. The remaining gas is intended for commercial sale on the open market. The arrangement combines state-secured supply with market-based commercialization of the project’s output.
State reserves allocation and commercial sales
The National Administration of State Reserves will take delivery of the contracted volumes beginning in 2028. The total quantity is set at around 5 bcm across seven years, with an average of approximately 700 million cubic meters annually.
OMV Petrom’s production not covered by the reserved portion will be available for open-market transactions. The reserved share is projected to fall within a range of 20–25% of annual output.
Project ownership and links to domestic demand
The Romanian state also has an indirect interest through Romgaz, which holds a 50% ownership share in Neptun Deep alongside OMV Petrom. This structure places Romgaz as a co-owner in the upstream development. The project’s governance therefore includes both OMV Petrom and Romgaz at the ownership level.
A portion of future output may also be directed to industrial consumption, including the Azomureș fertilizer plant. The facility was recently acquired by Romgaz from Ameropa and is expected to resume operations this year. At full capacity, it could use up to 1 bcm of natural gas annually.
Recoverable resources and expected production profile
Neptun Deep is estimated to contain around 100 bcm of recoverable gas reserves. The development is described as one of the most important upstream projects in the Black Sea region. Production is expected to peak around 2030.
At peak levels, output is forecast to reach between 7 and 8 bcm per year. The project is positioned as a key element in Romania’s future gas balance and regional energy role based on its expected production profile.
