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ROMGAZ BLACK SEA Ltd. Contract

16th Mar 2023 13:40

RNS Number : 2564T
S.N.G.N. Romgaz S.A.
16 March 2023
 

March 16, 2023

 

A N N O U N C E M E N T

 

S.N.G.N. ROMGAZ S.A. informs its shareholders and investors that its subsidiary, ROMGAZ BLACK SEA LIMITED, concluded today, March 16, 2023, a transmission framework agreement for transportation of natural gas to be produced from Neptun Deep through the National Transmission System.

 

The transmission framework agreement was concluded with the national gas transmission system operator, S.N.T.G.N. TRANSGAZ S.A., following the successful completion of an incremental capacity booking process in compliance with procedures approved by the National Energy Regulatory Authority.

 

According to the agreement, the required technical capacity is booked for acceptance in the National Transmission System, allowing natural gas from Neptun Deep block to enter the market. The agreement was concluded for September 2026 - September 2042.

 

S.N.G.N. ROMGAZ S.A. CEO, Mr. Razvan Popescu, states: "Signing the contract is an important milestone for the development of Neptun Deep Project, the document being, among others, one of the conditions required to implement both offshore investments and investments for the development of the gas transmission infrastructure required to take over the gas quantities to be produced in Neptun Deep block".

 

Chief Executive Officer,

Răzvan POPESCU

 

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