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Romania May Accelerate Deepwater Gas Drilling as Prices Surge

  • Romgaz may sell foreign bonds to help fund Neptun Deep project
  • Field to come on stream no later than in 2026, Romgaz CFO says

Romania may accelerate its first deepwater natural gas prospect amid a shortage of the fossil fuel in Europe, according to a partner in the Neptun Deep project.

State-controlled Romgaz SA, which is taking over Exxon Mobil Corp.’s 50% stake in the Black Sea project, said operator OMV Petrom SA will likely re-evaluate the development after a surge in energy prices and construction costs.