The EU has found a replacement for gas from Russia: A new major player will enter the market

German energy company Uniper, the country's largest gas importer, has signed a contract with Austrian company OMV to supply gas from the Romanian Neptun Deep field. Germany will purchase 1.7 billion cubic meters of gas in five years.

Reuters reports this, citing three sources familiar with the agreement. Germany will be the first country to sign a contract with the operator of a promising deepwater Black Sea field.

Deliveries will begin in 2027. Germany will purchase 15 TWh (1.7 bcm), which is equivalent to 1.5% of German gas imports in 2024.

The Neptun Deep field is estimated at 100 billion cubic meters, making it one of the largest in the European Union. When it comes on stream, Romania will become the largest gas-producing country in the EU and, for the first time, a net exporter of gas.

During the peak production period, Neptun Deep will produce about 8 billion cubic meters over 10 years. As a result, gas production in Romania will almost double. Gas companies see significant potential for discoveries in the Romanian sector of the Black Sea, where reserves are estimated at 200 billion cubic meters.

The field is operated by OMV Petrom, with OMV holding a controlling stake and Romanian state-owned Romgaz holding 20.7% (the companies own the field itself in half).

As OBOZ.UA previously reported, on January 1, Russia finally lost the European gas market, as gas transit through the Ukrainian gas transportation system was stopped. The contract between "Naftogaz" and "Gazprom" expired on December 31, 2024, and no new document was signed. There is little chance of signing such an agreement in the context of a full-scale war. While Transnistria remains without gas, and the Slovak leader is figuring out how to take revenge on President Volodymyr Zelenskyy, gas prices in Europe have risen by only 5% (to €50 per MWh). This proves that Europe is no longer dependent on Russian gas.

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