Romania's OMV Petrom and Romgaz have signed a $298.5 million natural gas delivery contract with Transgaz, the country's national gas transmission company, MarketScreener reported yesterday, citing a report published by SeeNews.
The contract covers 16 years from September 2026 to September 2042, according to SeeNews, a news agency that cited a statement from OMV Petrom filed with the Bucharest Stock Exchange, adding that the contract value is based on the transport tariffs applicable at the current date.
Under the agreement, Transgaz will construct a new 308-km (191-mile) gas pipeline from Tuzla, on the Black Sea coast south of Constanta, to Posidor, west of Bucharest, and the site of the start of the EU-supported BRUA (Bulgaria-Romania-Hungary-Austria) interconnector gas pipeline.
According to the reports, the newly signed contract will enable OMV Petrom and Romgaz to deliver natural gas to Romania's Transgaz for the next 16 years. The pipeline will improve natural gas transportation to different parts of Romania and will boost the EU-supported BRUA interconnector gas pipeline.