Prime Minister Marcel Ciolacu says that the Neptun Deep project, which involves the extraction of gas from the Black Sea, is a strategic one that will turn Romania into the largest natural gas producer in the European Union, write Agerpres.

„This strategic project to Romania will contribute to the country’s energy security. Romania will thus become the largest producer of natural gas in the European Union,” Ciolacu said in a social media post on Friday.

The development plan for the Domino and Pelican Sud deposits in the Neptun Deep block has been confirmed by the National Agency for Mineral Resources.

OMV Petrom and Romgaz will invest up to EUR 4 billion at this stage of project development, which will generate a production of about 100 billion cubic metres of natural gas. The first quantities of Black Sea gas would be extracted in 2027.