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BRENT

0

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525

Romania gets Russian gas at the lowest price in Europe in Q1

Natural gas in Romania accounts for about a 3rd of the domestic primary energy mix

Romania gets Russian gas at the lowest price in Europe in Q1

Bucharest, July 12 - Neftegaz.RU. The price paid by Romania for the Russian natural gas in the 1st quarter of the year (Q1) was the lowest in Europe, lower than the prices on the local markets and in Europe, only the Azeri gas delivered to Bulgaria was cheaper - according to Economica.net quoting data compiled by the European Commission.

Traditionally, Romania used to pay the highest prices in Europe for Russian gas.
But according to the European Commission, the cost of Russian gas imported by Romania in Q1 was EUR 13.5.
Less than Russian gas sold on any other market calculated on the same methodology (compared to EUR 16.5 in Bulgaria or EUR 17.5 in Hungary).

Also, according to the same source, the price of Russian-sourced gas imported in Romania had the lowest price compared to all gas sources in all European markets, except for the gas sold by Azerbaijan to Bulgaria.

Romania has a century of experience in natural gas production.
In 2019, 9.7 bcm of gas were brought to surface locally and a remaining quantity of 1.4 bcm was imported to cover domestic consumption.

Apart from the economic role, domestic gas production also plays a geopolitical role in that the country has traditionally been far less dependent on imports that its neighbours.
Most gas production comes from onshore fields, though Romania has been exploring shallow offshore waters since 1969.

Source : Neftegaz.RU


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