Romania to begin gas production at a newly discovered field in 2019

16/05/2017 10:51 Natural Gas

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According to the last week’s statement of the Romanian government, Romgaz, the state-owned gas producer, will begin production at a newly, biggest discovered gas field in three decades, in 2019.

The 35 km-long Caragele field, located in the central Romanian county of Buzau, has approximately 25-27 billion cubic metres of gas, which could guarantee all the nation's needs for about three years.

 

Further exploration work is expected as Romgas intends to drill six more wells this year. Consequently, the anticipated production might rise. The total investment needed for the project is around 140 million euros, of which 40 million are likely to be used in 2017.

 

Among other plans that could transform Romania into a net gas exporter is the accomplishment by 2019 of the Bulgarian-Romanian gas pipeline which is partly funded by the European Union and is connecting the two states to Austria.

 

The Caragele discovery makes Romania more energy independent, as stated by the Prime Minister, Sorin Grindeanu.

 

With a various mix of energy resources, counting coal, hydro, nuclear and renewables, Romania, unlike many of its developing European counterparts, imports merely a 10th of its gas needs from Russia.

 

Nevertheless, while Romania has a robust energy mix, the energy ministry predicted in 2016 that the entire sector requires an investment of approximately 20 billion euros in electricity, oil and gas production, mining and related infrastructure by 2030.

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