Romania has used pre-emption rights tied to the Neptun Deep project in the Black Sea to secure a defined portion of future output from OMV Petrom. The arrangement provides volumes for the National Administration of State Reserves under an agreement starting in 2028.
Under the terms, the state agency is set to receive around 5 billion cubic meters (bcm) of natural gas over a seven-year period beginning in 2028. This corresponds to roughly 700 million cubic meters per year. The reserved share is expected to be drawn from production allocated to OMV Petrom under the project framework.
State-reserved volumes and open-market sales
The reserved volumes are expected to represent around 20–25% of OMV Petrom’s annual production from Neptun Deep. The remaining gas is intended for commercial sale on the open market. This allocation is designed to combine state-secured supply with market-based commercialization of the rest of output.
The Romanian state also holds an indirect interest in Neptun Deep through Romgaz, which has a 50% ownership stake in the project alongside OMV Petrom. The structure links state participation to both reserved volumes and broader project ownership.
Potential industrial offtake from Azomureș
A portion of Neptun Deep output may be directed to industrial demand, including the Azomureș fertilizer plant. Romgaz recently acquired the facility from Ameropa. The plant is expected to restart operations this year.
At full capacity, Azomureș could consume up to 1 bcm of natural gas annually. This makes it a potential off-taker for future supplies associated with Neptun Deep production. The industrial use would be separate from volumes reserved for the National Administration of State Reserves under the pre-emption arrangement.
Neptun Deep reserve estimates and production outlook
Neptun Deep is estimated to hold around 100 bcm of recoverable gas reserves. The project is described as one of the most significant upstream developments in the Black Sea region based on these estimates. Production is expected to peak around 2030.
At peak levels, output is projected to reach between 7 and 8 bcm per year. The development is positioned as a key element in Romania’s future gas balance and its regional energy role based on the projected production profile.
