- The contract will run for a period of 17 years and stipulates capacity booking and providing transport services of natural gas
- The value of the contract is 1.4 billion lei (approx. EUR 276 million), based on the transport tariffs applicable at the current date
OMV Petrom, the largest integrated energy company in Southeast Europe, announces the signing of a contract for the natural gas delivery from the Black Sea to the National Transport System (NTS), through the Tuzla entry/exit NTS point.
The contract was concluded for the period September 2026 – September 2042.Based on the transport tariffs applicable at the current date, the value of the contract is estimated at EUR 276 million. The signing of the contract took place after the successful completion of the incremental capacity booking procedure for the Tuzla entry/exit NTS point.
Christina Verchere, OMV Petrom CEO: "Today we took an important step together with our partners. We believe the Black Sea holds a significant potential for natural gas and Neptun Deep is a strategic project for OMV Petrom and for Romania. It is at the core of our Strategy 2030 and will play an essential role for Romania's energy security. We are planning the final investment decision for mid-2023, with the production to begin in 2027."
OMV Petrom became the operator of the Neptun Deep block in August 2022. At the end of 2022, the company submitted the declaration of commerciality for the field. Currently, the company is progressing with the tendering process, permitting and other technical topics.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in 2022. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through approximately 780 filling stations under two brands – OMV and Petrom.
OMV Petrom is a company in which Romanian shareholders hold over 42% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 21.7% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange and the London Stock.
OMV Petrom is the largest contributor to the state budget, with approximately 39 billion euro in taxes and dividends paid between 2005 and 2022. During the same period, the company invested approximately 17 billion euro. In 2022, the taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2022, the company has allocated around 120 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.
On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change. OMV Petrom annually reports on the progress made in implementing these recommendations.