- The contract is valid until March 2025
- The two companies also signed a memorandum of understanding to expand collaboration in the field of liquified natural gas (LNG) in Southeast Europe
OMV Petrom, the largest integrated energy company in Southeast Europe, signed a contract for the purchase of natural gas with BOTAŞ, the national oil and gas company of Türkiye. The contract was signed for a period of 18 months, starting October 2023 and allows for the supply of up to 4 million cubic meters per day.
Franck Neel, member of the OMV Petrom Executive Board, responsible for the Gas and Power activity: "Natural gas is essential for a successful energy transition. Through the contract signed with BOTAŞ, we ensure access to a new source of natural gas for Romania, and we contribute to the consolidation of the country's energy supply. In addition, the memorandum will enable the diversification of LNG access to Romania”.
The gas is to be delivered outside Türkiye, at the Malkoclar/Strandja point. The main destination market of the gas is Romania.
At the same time, the two companies will expand their collaboration through a memorandum of understanding in the field of LNG.
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 Exchange.
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.
Founded on August 15, 1974, BOTAŞ (Petroleum Pipeline Corporation) is one of Türkiye's largest and most prestigious companies operating in the field of energy. Respected in the world, a leader in its region and a guiding institution in the energy sector, BOTAŞ continues its activities in line with Türkiye’s goal of being an energy hub. While continuing its projects and activities with the principle of "We are Changing the Air of Türkiye", BOTAŞ, which has the Green World Environment Awards, BIG Sustainable Leadership Awards, ISA International Occupational Safety Awards and Stevie International Business Awards in the international arena with its human and environmental awareness in line with the sustainability principle, leads the energy sector in Türkiye and in the world.
One of the largest public institutions in Türkiye's energy sector, BOTAŞ's main fields of activity are: Oil and Natural Gas Pipeline Operation • LNG/FSRU Terminal Operation • Port Services • Project Design, Engineering, Land Survey, Expropriation and Construction Works of Oil and Natural Gas Pipelines and Compressor Stations • Natural Gas and LNG Trade • Natural Gas and LNG Storage Activities • International Natural Gas and Oil Transportation Projects.