Energocom has announced the signing of a three-year contract for the purchase of natural gas with OMV Petrom. In doing so, the state-owned strategic energy company marks a historic moment by signing its first long-term acquisition contract with OMV Petrom, one of the leading energy market players in the region.

Energocom SA will purchase natural gas sourced from the strategic Neptun Deep project. This is the largest natural gas project in the Black Sea and Romania’s first deep offshore project. Neptun Deep holds estimated reserves of around 100 billion cubic meters of natural gas, which will help position Romania as the largest natural gas producer in the European Union.

Deliveries will be made through the virtual trading point (VTP) in Romania, ensuring a steady flow of natural gas to the Republic of Moldova.

Minister of Energy Dorin Junghietu told moldpres.md that this contract will contribute to the diversification of supply sources and thereby strengthen the country’s energy security.

“After Russia reduced gas supplies to the Republic of Moldova in 2021, Energocom proved that it could bring in liquefied natural gas from overseas, and now it secures deliveries from the largest offshore project in the Black Sea, which is set to begin extraction soon,” the minister commented.