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American-backed Black Sea project could start gas deliveries by the end of 2021

BLACK SEA
OIL & GAS

American-backed Black Sea project could start gas deliveries by the end of 2021

Black Sea Oil and Gas (BSOG), a Romanian company with backing from Carlyle, a US investment firm, could begin the delivery of gas from the Black Sea by the end of the year after the finalization of work on the Midia Gas Development project - Romania-Insider

Engie SA, the French multinational utility company and one of the main gas suppliers on the Romanian market, signed a contract for half of the gas extracted from the Midia perimeter by BSOG.

The project’s production is estimated at 1 billion cubic meters per year, which accounts for around 10% of the total gas consumption in Romania.

The current high prices for natural gas mean that these Black Sea gas deliveries would be coming during a critical time for the Romanian energy market.

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