Gazprom cooperation may be extended for 10 natural gas deposits in Romania

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Talks between Romania and Russia on the development of some natural gas deposits have been extended to 10 deposits identified by Romgaz, Trade and Business Environment Minister Adriean Videanu told a press conference on Friday.

‘As regards the gas storage in Romania, the talk was extended to include the Roman Margineni depot. Romgaz identified further 10 deposits and in March we will have the data on these deposits,’ Adriean Videanu said.

Moreover, Economy minister added Gazprom was interested in extending the cooperation with Romgaz on the depots developed by the joint venture to be set up by the two companies, with each of them due to hold a 50-percent stake. The total capacity of the storage facilities may reach 6 billion cubic meters of natural gas.

‘Talks will not relate to the deposits exploited by Romgaz. The Roman-Margineni depot may store between 600 and 2 billion cubic meters of natural gas and all storage facilities could have a capacity ranging between 2 and 6 billion cubic meters,’ the Economy minister added.

As regards the effects on the natural gas price to consumers, the MECMA official said it will depend on the way in which prices will be adjusted by the market.
‘The mechanism relates to the capitalization of natural gas in summer and its storage and use in winter. It is important that we will have the resources here,’ Videanu said.

Gazprom expressed interest in developing a direct relationship with the National Natural Gas Company Romgaz following the conclusion of the supply contracts in force regarding the imports of Russian natural gas to Romania on the occasion of a meeting held on Wednesday in Bucharest by Gazprom vice-president Aleksandr Medvedev and the Economy Minister Adriean Videanu.

At present, Romania imports gas from the Russian Federation through the Russian-German Wintershall company and Imex Oil. The two officials discussed about aspects relating to the gas import from Russia, the cooperation with Romgaz for the development of the storage capacities in Romania, as well as the cooperation with Transgaz for the development of the transit network and the renegotiation of the contracts regulating the transit through Romania of the natural gas to the Balkan states, with a view to extend them, as they will expire in 2011.

Romgaz should have presented to Gazprom last year technical data on the natural gas storage facilities that would make the object of the agreement between the two corporations on the establishment of the Romanian-Russian joint stock. The storage facilities should be 250 km away from the transit pipeline, according to Romgaz specialists.
Gazprom is the world’s largest natural gas producer. Europe is almost 25 percent dependent on Russia for natural gas, and 80 percent of Russian gas deliveries to Europe pass through Ukraine.

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