Romanian officials have confirmed that the major offshore gas project in the Black Sea, known as Neptun Deep, is progressing as planned and is expected to begin delivering natural gas in 2027. The update followed discussions between Romanian authorities and executives from OMV Petrom, including Supervisory Board Chairman Alfred Stern and Chief Executive Officer Christina Verchere.
The Neptun Deep development, located in the Black Sea, represents one of the largest energy investments in the region. With an estimated value exceeding €4 billion, the project is expected to significantly strengthen Romania’s energy security by increasing domestic gas production and reducing reliance on imported fuels.
According to officials, once production begins, Neptun Deep could nearly double the country’s natural gas output, providing a major boost to national energy independence. The project is considered strategically important for Romania’s long-term energy strategy and could also contribute to energy stability across the wider European region.
During the meeting, the participants also reviewed current developments in global energy markets. Discussions included the impact of geopolitical tensions and potential supply disruptions, which have raised concerns about fuel prices and energy security. Company representatives provided an overview of short- and medium-term market scenarios and the steps being considered to respond to possible fluctuations.
The issue of fuel pricing and supply stability was also addressed. Officials and energy sector leaders agreed on the importance of maintaining close cooperation between the government and key industry players to manage potential pressures on the energy market and ensure stable supply for consumers.
One topic of concern discussed during the talks was the potential impact of disruptions in the Strait of Hormuz, a crucial global oil shipping route. Any closure or major disruption in the strait could affect many countries that rely heavily on imported oil and petroleum products.
Although Romania has its own energy resources, they do not fully meet domestic demand. The country currently imports around 80 percent of the crude oil required for its internal consumption. This makes long-term investments such as the Neptun Deep project even more critical for reducing dependency on external supplies.
Authorities emphasized that the best response to market uncertainty is to continue supporting major energy investments already underway while maintaining open dialogue with companies operating in the sector. Officials say they will continue monitoring global developments closely and will take measures aimed at protecting both Romanian citizens and the national economy from potential energy shocks.