Bucharest-listed OMV Petrom, the largest integrated energy company in Southeast Europe, signed a contract for the purchase of natural gas with BOTAŞ, the national oil and gas company of Türkiye. The contract was signed for a period of 18 months, starting October 2023 and allows for the supply of up to 4 million cubic meters per day.
“Natural gas is essential for a successful energy transition. Through the contract signed with BOTAŞ, we ensure access to a new source of natural gas for Romania, and we contribute to the consolidation of the country’s energy supply. In addition, the memorandum will enable the diversification of LNG access to Romania” Franck Neel, member of the OMV Petrom Executive Board, responsible for the Gas and Power activity said in a statement.
The gas is to be delivered outside Türkiye, at the Malkoclar/Strandja point. The main destination market of the gas is Romania.
At the same time, the two companies will expand their collaboration through a memorandum of understanding in the field of LNG.
BOTAŞ has successfully concluded important agreements for the export of natural gas to countries in the region such as Greece, Bulgaria, and Hungary, is increasing its contribution to the security and diversity of energy supplies in neighboring markets and in Europe by including Romania among the countries to which it supplies gas, said the statement.
BOTAŞ noted that it continues to negotiate new export agreements with various countries and companies, adding that it aims to become one of Türkiye’s top ten exporters within three years.
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in 2022. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through approximately 780 filling stations under two brands – OMV and Petrom.
BOTAŞ (Petroleum Pipeline Corporation) is one of Türkiye’s largest and most prestigious companies operating in the field of energy.