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Midia Gas Development Project Moving Forward

BLACK SEA
OIL & GAS

Midia Gas Development Project Moving Forward

Black Sea Oil & Gas (BSOG), owned by investment fund Carlyle International Energy Partners and The European Bank for Reconstruction and Development, implements during June 2019 – September 2021 the first gas production project in the Romanian continental shelf of the Black Sea built after 1989 in Romania – Midia Gas Development Project (MGD). Source: EnergyIndustryReview

On September 17, 2020, BSOG and GSP Offshore announced the start of the stage of laying the pipelines of over 120 kilometers that will carry gas to Romania and cover 10% of the country’s consumption needs.

The event for the commencement of pipelaying was attended by PM Ludovic Orban, Economy, Energy and Business Environment Minister Virgil Popescu, Minister of National Defense Nicolae Ciuca, Minister of Environment, Water and Forests Costel Alexe, as well as US Ambassador to Romania Adrian Zuckerman.

The value of the project amounts to USD 400 million, this being a project with great value and highly complex, whose target is to bring gas from the offshore field into the gas network of Romania, so that gas can reach the gas transmission and distribution infrastructure. The Government I run has mobilized EUR 1 billion for the project aiming at the establishment of gas distribution networks in the localities where such gas distribution does not exist, so that Romanian gas reaches the homes of Romanians; we also support all investments through which natural gas can be capitalized on, so that it generates added value, well-paid jobs and quality and competitive products.

Ludovic Orban

For us, for the Government of Romania, Black Sea gas exploitation has been, is and will continue to be a priority. Today we are witnessing an important step for this project, a US investment of over EUR 500mln, through which Romanian Black Sea gas will finally reach the homes of Romanians. It is an ambitious program that the Government has assumed, to bring Romanian gas to the homes of Romanians, to have new gas sources available. Today, by starting works to install the submarine pipeline, we will have the certainty that next year the first molecule of gas will flow through these pipelines. I wish this strategic partnership with the US, this economic side to continue.

Virgil Popescu

In order for projects in the Black Sea to gain momentum, it is absolutely necessary that all hostile legislation in the Black Sea hydrocarbon fields, which was adopted in 2018, disappears completely. And those rules that at the moment allow foreign companies and foreign producers to bring natural resources to Romania at the expense of local companies and producers must disappear. Romania must ensure that it can produce its own gas without problems and that it stops imports.

Mark Beacom, CEO, BSOG

Today there is a special event for Romania, for the Romanian-US partnership. This project started two years ago is beginning to take shape, after the engineering phase, after the long preparations, manufacturing… This project is entirely a Romanian project, made with teams of Romanian specialists, with Romanians, with Romanian equipment.

Gabriel Comanescu, CEO, GSP Offshore

The project also brings benefits for the community in Corbu, creating opportunities for local entrepreneurs during and after project implementation. BSOG also develops social involvement programs in the community and supports the local communities in the approach of connection to the gas distribution network.

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