Romania has the potential to be the largest gas producer in Europe in the Black Sea Area and to have a very important contribution in terms of security of supply, if we look at carbon storage, Oil and Gas Employers’ Federation (FPGG) President Frank Neel told a specialist conference.
According to Neil, Romania needs to think about a new way of storing carbon, but also about the importance of hydrogen for industry.
‘The next topic we discuss during this conference is hydrogen. (…) I think what is important for industry is what is what is our look on hydrogen and not to make a choice about technology, but to leave the research and development, to leave the engineers, to leave the market to drive the low carbon hydrogen. I think Romania has a wealth of opportunity here in terms of green hydrogen, if we think of solar, renewable hydrogen, definitely due to the potential of wind and so on, but also to the gas resources, due to the carbon storage capability to develop an affordable hydrogen, a local hydrogen,’ Neel added.
He also pointed out that Romania has the potential to increase its production, particularly through the Neptun Deep project in the Black Sea.
„First of all, there are some very good news in Romania in terms of security of supply. First of members of FPPG Black Sea Oil & Gas, continue to also produce but also show that they are potentially… they also have the potential to increase the production, so it’s really good news for Romania. We see a reservoir with a very good quality, a very good quality of gas, while also I would say a very good information for the next project, the Neptun, where Romgaz and OMV Petrom, our members, took FID decision last year, so a very important decision and there will be a panel today to discuss with the CEO of the company about this project (…) Two topics that I would also like to highlight. The methane emissions, which for Romania is a big challenge, due to the history of the oil and gas industry. And I think we are going to the authority to defend the position. It’s not that we are against the methane reduction, but we want to make it economically viable and to have a sense in terms of what we can achieve in Romania. So that’s really a strong debate at the moment with the authorities and with the industry”, said Franck Neel.
The Oil and Gas Employers’s Federation (FPPG), under the high patronage of the Ministry of Energy, organised the 6th edition of the Romanian International Gas Conference – RIGC 2023, November 7-8, on the theme of „Redefining Security of Supply. The potential of new technologies for a sustainable energy transition”.
