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BUCHAREST, Oct 19 (Reuters) – Romanian state-owned fuel producer Romgaz (SNG.BX) mentioned on Wednesday it plans to develop a liquefied pure fuel undertaking on the Black Sea collectively with Azerbaijan’s state power agency SOCAR.
The 2 corporations signed a memorandum of understanding in capital Bucharest and agreed to carry out a feasibility research for such a undertaking, which would come with an LNG plant, a regasfication plant and different services wanted to move fuel from the Caspian Sea.
In September, the fuel community operators of Bulgaria, Romania, Hungary and Slovakia proposed transport extra pure fuel provide pledged by Azerbaijan to Europe.
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Not like different international locations within the area, European Union member Romania depends much less on Russian fuel.
It produces just below 90% of its required fuel domestically via state producer Romgaz, oil and fuel group OMV Petrom (ROSNP.BX) and Black Sea Oil & Gasoline (BSOG). Its pure fuel storage services have additionally been crammed above a focused 80% capability.
BSOG, managed by personal fairness agency Carlyle Group (CG.O), launched its offshore fuel platform in Romanian waters of the Black Sea earlier this 12 months.
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Reporting by Luiza Ilie; enhancing by Philippa Fletcher
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