Romania seeks financing for €2.43bn preemption purchase of Neptun Deep gas
Romania is preparing a financing mechanism that would allow its state reserves agency to buy 49.9 TWh of offshore gas offered by OMV Petrom over seven years. The purchase would require about €2.43 billion before VAT and excise duties, as Hungary’s MVM also shows interest in the resources.
State agency lacks funds for the purchase
Romania is preparing a financing mechanism to exercise the state’s preemption right over natural gas offered by OMV Petrom from offshore petroleum areas. According to Ziare.com, the National Administration of State Reserves and Special Issues, known as ANRSPS, does not currently have the funds required for the acquisition.
The proposed mechanism would enable ANRSPS to purchase gas worth approximately 12.8 billion lei over seven years. The initiative comes as Hungarian energy company MVM has also expressed interest in the resources. The available source does not specify the volume or commercial terms sought by MVM.
The transaction concerns a gas supply offered by OMV Petrom, rather than a sale of the company’s ownership interest in the Neptun Deep project. The financing proposal is intended to give the Romanian state the budgetary authority needed to use its statutory preemption right.
Offer covers 49.9 TWh over seven years
An explanatory memorandum cited by Ziare.com states that OMV Petrom submitted the offer on May 8, 2026, in its capacity as the holder of petroleum agreements covering offshore areas. The offer comprises 49.9 TWh of natural gas, equivalent to 49,900,000 MWh.
The stated price is €48.752 per MWh. Using an exchange rate of 5.2581 lei per euro, ANRSPS would require a budget of approximately €2,432,724,800, or 12,791,510,270 lei, to acquire the offered quantity over seven years. Both figures exclude VAT and excise duties.
That commitment is far larger than the agency’s existing annual allocations. Its 2026 budget provides 656.5 million lei in budget appropriations and 743.2 million lei in commitment appropriations, according to information attributed by Ziare.com to Profit.ro. The gap explains the need for a separate multi-year financing arrangement.
Government prepares budget authorization
A draft measure would authorize ANRSPS in 2026 to add the commitment appropriations associated with offshore gas purchases to its own budget. The purchases would be made under the state’s preemption right established by Article 21(4) of Law No. 256/2018, as republished.
The required commitment appropriations would be assigned under the budget chapter for general economic, commercial and labor actions, within the category for non-financial assets and the line covering strategic stocks, state reserves and mobilization reserves. For Romania, the decision would convert a legal right over offshore gas sales into a funded procurement program. For OMV Petrom and other interested buyers, the decisive issue is whether the state completes the authorization and financing needed to take the offered 49.9 TWh on the stated terms.