Romania prepares to boost gas exports with neptun deep project

In Romania, a significant gas project is underway that could enhance European energy security amid reduced reliance on Russian gas. The Neptun Deep Gas Field, located in the Black Sea, is estimated to hold approximately 100 billion cubic meters of natural gas and is one of the largest gas deposits in the European Union. This endeavor comes at a crucial time following a decline in Russian gas imports, which fell from 40% of European consumption in 2021 to just 8% in 2023, particularly after Ukraine halted Russian gas transit in January 2025 after the expiration of their contract. The project aims to drill ten wells within 7,500 square kilometers, positioned 160 kilometers offshore in depths varying from 100 to 1,000 meters, indicating a significant geographical and logistical undertaking that could transform Romania's role in the energy market. Cooperation with neighboring Hungary is in place to further bolster energy interconnections, emphasizing regional support for this project. The increased capacity could establish Romania as a key player in the energy landscape of Europe, potentially alleviating energy concerns triggered by geopolitical tensions and the ongoing war in Ukraine. Additionally, as the United States has stepped in with LNG exports to fill the energy gap left by Russia, Romania's new gas project aligns with broader efforts to enhance energy independence across Europe and minimize the impacts of Russian influence. As Romania approaches its national elections in May, where the political environment is dynamically shifting after the annulment of a previous election, the impact of this gas project could play a pivotal role not only in the country's energy strategy but also in shaping its political landscape. Tension remains between the U.S. and the EU regarding energy purchases, evidenced by President Trump's threats of tariffs, while discussions around reviving the Nordstream 2 project add complexity to the European energy dialogue.