The expiration of the administered price measure of 110 lei for the household consumer and Neptun Deep gas will ensure a gas supply slightly higher than demand and will lead to the formation of a real and fair price in Romania, Romgaz Deputy General Manager Aristotel Jude said on Monday.
“I believe that after the measure adopted by the Government, namely the administrative price of 110 lei for the household consumer, expires in April 2027, together with the flow of gas from Neptun Deep, it will ensure a natural gas supply slightly higher than demand, which will lead to nothing but the formation of a real and fair price in Romania, both for the household consumer and for the industrial consumer,” Jude said.
He stressed that, in the current context we find ourselves in, a strategic priority is energy supply, including natural gas, and the Neptun Deep project makes Romania important from an energy point of view, because it will ensure security in natural gas supply, both for domestic consumption and for the region, according to Agerpres.
“Moreover, I would like to highlight the fact that in 2021 Romgaz invested in this project against the times, when everything was going towards anything other than natural gas,” Jude said.
He added that, with the gas coming from this project, a decrease in gas prices should normally be seen, but he avoided giving a prediction, because “natural gas prices are formulated according to some indicators.”
“But it is clear that when supply is higher than demand, it can only be beneficial for the final consumer, industrial and household,” the Romgaz official pointed out.
Aristotel Jude recalled that each of the project partners markets its own gas quantities, namely 50% of the production is marketed by Romgaz and 50% by OMV Petrom, and conveyed that, in his opinion, from the moment the production from the Neptun Deep project starts flowing into the national transport system, there will be no need to import natural gas, except for short periods of time, to ensure the supply/demand balance.
“The production of natural gas from the Neptun Deep project will be around 8 billion cubic meters. As I said, each of the companies will market 50% of this production. It is clear that the production from Neptun Deep will ensure, together with the onshore gas production of the two companies and the other producers in Romania, more than likely the quantities of natural gas necessary for domestic consumption,” Aristotel Jude also said.