25 April 2024
Romania risks missing the boat on a gas bonanza
Publication date: 22 May 2019
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
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With Gazprom and Naftogaz’s gas transit deal expiring at the end of 2019 and many of the Russian company’s supply deals with its southeast European customer base expiring in the near term, Romania has an opportunity to position itself as a regional gas exporter. The country is sitting on gas reserves which could secure its gas needs for years to come, in addition to catering for regional demand. However, the government's recent decision to introduce a price cap risks Romania's export ambitions, yielding a slew of delayed FIDs and led one offshore developer to claim it will set the industry back a decade.