The vast majority of gas purchased from the Black Sea will be supplied to Romanian consumers and only the surplus will be exported, said Eric Stab, CEO of Engie Romania, during a conference on Monday.
“In November 2018, Engie signed a 10-year contract with Black Sea Oil and Gas, because we are a large supplier in Romania. Without this contract, the investors would not have made the final investment decision in that project, the project would not have been implemented and we would not have seen this gas on the market,” said Stab.
If Engie had not taken that risk in 2018, this gas would not have flowed today, he emphasized.
“We are a large supplier of gas to Romanian domestic and industrial customers. If there is sufficient demand, the gas will go to Romanian consumers. If there is no demand in Romania, the only solution is to export it, but the vast majority of gas will remain here in Romania,” said the Engie representative, quoted by Agerpres.
According to a press release dated November 20, 2018, Black Sea Oil and Gas (and its partners from that date) signed an agreement with Engie for the delivery of natural gas from the Midia Natural Gas Development Project (MGD), for a minimum period of 10 years, in accordance with Romanian legislation.