The Energy Ministry announced on Friday that it gives the green light to the Black Sea oil projects.
So far, no oil company has announced that it has made a final decision to invest in the Black Sea. These decisions have been postponed in the context of the latest legislative changes, in order to analyse their impact.
Moreover, Transgaz presented only last summer, in its six-monthly report for the BSE, the plans for building the pipeline to be fuelled with the gas from the shore which concessionaires of Black Sea perimeters will extract. EUR 360 million and two years represent the cost and time needed for building the Tuzla-Podisor gas pipeline, which will make the junction with BRUA, the pipeline that will take them out of the country.
Building the gas dry infrastructure falls under Transgaz’s responsibility, while the gas transport to the shore falls to the concessionaire.
The Ministry of Energy says it has issued an authorization document for the implementation of offshore works necessary for starting gas production in Midia perimeter, operated by company Black Sea Oil & Gas.
In autumn, the Parliament approved the Law on offshore but oil companies said they needed time to analyse its impact in order to make the final investment decision. Meanwhile, it has been issued Government Emergency Ordinance 114/2018, which caps the price of gas at 68 RON / MWh for three years.