EU aiming to phase out Russian gas by 2027, secures first contract from Romanian offshore field

The Austrian OMV, which operates the Romanian offshore field Neptun Deep, has signed its first export contract with German company Uniper. The deal involves the supply of 15 terawatt hours (1.7 billion cubic meters) of gas per year for three years, starting in 2027. This volume represents 1.5% of Germany's gas imports in 2024.

Gas supplies from the Neptun Deep deepwater field on the Romanian shelf in the Black Sea are expected to begin in 2027. Recoverable reserves are estimated at 100 billion cubic meters (42-84 billion were reported at the time of discovery in 2012), making the field one of the largest in the EU. After the start of its operation, Romania will become the largest gas-producing country in the European Union and, for the first time, a net exporter of gas.

During the peak production period, the output from Neptun Deep is expected to be around 8 billion cubic meters over 10 years, nearly doubling Romania's gas production. Gas companies see significant potential for new discoveries in the Romanian sector of the Black Sea, with estimated reserves of 200 billion cubic meters, according to Reuters.

The operator of the field is OMV Petrom, with OMV holding a controlling stake and the Romanian state-owned company Romgaz owning 20.7% (the companies co-own the field in equal 50% shares).

The news of the first contract for gas supply from Neptun Deep comes a week after the halt of Russian gas transit through Ukraine, which refused to extend a contract that expired in 2024. As a result, Gazprom is left with only one of the five pre-war export routes to Europe—the Turk Stream.

Previously, it was reported that on Jan. 1, 2025, the transit agreement between Gazprom and Naftogaz expired, leading Ukraine to stop the transit of Russian gas through its territory. The transportation of Russian gas has been halted from the entry point at Sudzha on the northern border of Ukraine to the exit points on the western and southern borders.

President of Ukraine Volodymyr Zelenskyy commented on the halt of Russian gas transit through Ukraine, stating that it is one of Russia's biggest failures. The Ministry of Foreign Affairs of Ukraine also commented on the halt, stating that Ukraine has deprived Russian dictator Vladimir Putin of one of the last levers of influence over Europe.

Advisor to the Head of the Office of the President of Ukraine, Mykhailo Podoliak, stated that the Moscow empire has lost the ability to manipulate politicians and entire countries. 

Prime Minister of Ukraine Denys Shmyhal previously announced a new model for the operation of the Ukrainian GTS.

The European Commission commented on the halt of Russian gas transit through Ukraine, stating that Europe's gas infrastructure is sufficiently flexible. 

However, Slovak Prime Minister Robert Fico claimed that the halt of Russian gas transit through Ukraine would have serious consequences for EU member states but not for Russia.

Meanwhile, Western media reported that after the halt, Russia would strike at the Ukrainian GTS.