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Romania aims to produce 90% of its natural gas requirements as Russia cuts supplies

BLACK SEA
OIL & GAS

Romania aims to produce 90% of its natural gas requirements as Russia cuts supplies

Amid rising concerns across European Union (EU) countries about the possibility of Russia reducing gas exports in retaliation to the EU's support for Ukraine in the war against Moscow, Romania is working towards setting up natural gas production units in the Black Sea. - RepublicWorld

Romanian Prime Minister Nicolae Ciucă on Tuesday, June 28, stated that the beginning of gas production in the village of Vadu on the Black Sea coast of southeast Romania is a historic development that would help the nation to reach its goal of 90% natural gas self-sufficiency, Xinhua reported.  

During the opening ceremony for the natural gas production under the Midia natural gas development project.

It is a historic moment for the Romanian energy industry...It is the first new natural gas exploitation project in the Romanian Black Sea area in the last 30 years, and the first quantities of gas have already been introduced into the domestic market this month.

Prime Minister Ciucă was quoted by Xinhua

Besides this, the Prime Minister also highlighted that the project would produce 1 billion cubic meters of natural gas annually and would assist the nation in meeting 90% of its consumption demands.

Romania is thus taking a decisive step in guaranteeing energy security.  

Prime Minister Ciucă was quoted by Xinhua

Notably, the 120 km offshore Romanian Midia project consists of five producing wells in water that is 70 metres deep. The project can further produce 10% of the country's gas needs when it is fully operational. 

In order to revive gas and oil exploration and development in the Black Sea that was postponed for years, Romania enacted the Offshore Bill in mid-May, Xinhua reported.  

Russia ceased gas supply to nations that refused to pay in rubles

Meanwhile, Dmitry Peskov, Russian President Vladimir Putin's press secretary, revealed that gas supplies had been shut down to countries that failed to comply with the new regulations for paying for gas deliveries in rubles. On June 9, Peskov told the media that Russia has no intentions to stop gas exports, according to a TASS report. The new system, which operates in accordance with Vladimir Putin's order, he asserted, is in place for nations that still get gas from Russia. 

Further, it is worth mentioning that Russian energy giant Gazprom has stopped supplying gas to Denmark, Finland, Poland, the Netherlands, as well as Bulgaria because they were unable to make payments in rubles. The interruption of gas shipments to Poland's PGNiG and Bulgaria's Bulgargaz was announced earlier on April 27 by Gazprom because both companies refused to pay for Russian gas in rubles. Vladimir Putin, the President of Russia, declared on March 31 that starting April 1 "unfriendly countries" will have to pay in rubles to buy Russian gas. 

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