Romania is pairing a gas project designed to produce 8 bcm a year with utility-scale solar and battery storage, expanding domestic supply and adding balancing resources. OMV Petrom and Romgaz are developing Neptun Deep, which targets first gas in the first half of 2027.
In a separate deal, Carlyle and the European Bank for Reconstruction and Development agreed to sell Black Sea Oil & Gas (BSOG) to Mazarine Energy. BSOG operates the Midia project in the Black Sea, which produces around 1 bcm a year, equivalent to roughly 10–12% of Romanian gas demand.
Neptun Deep holds around 100 bcm of recoverable gas and is designed to maintain plateau production for close to a decade. Its development cost is around €4 billion. At full output, the project could almost double Romanian gas production and create export capacity for neighbouring markets.
Solar and storage projects advance
Nofar connected a 74 MW solar project in Romania, while OMV Petrom and Renovatio brought three parks with combined gross capacity of about 130 MW into commercial operation.
ENNA Solar agreed to acquire a hybrid project combining 166 MW of solar capacity with 612 MWh of battery storage. Construction is targeted to start from Q1 2027, with operations due to begin in Q1 2028.
Infrastructure and delivery risks
Domestic gas can provide flexible generation and export optionality, while solar and battery energy storage systems can reduce fuel burn and add balancing resources. Together with flexible thermal capacity and cross-border transmission, the projects are building the components of a regional energy hub.
Romania is one of the few South-East European markets where gas and renewable growth are occurring simultaneously, creating both competition and complementarity in power-sector investment. Execution risk, grid integration and Black Sea infrastructure security remain constraints on development.
