Turkey’s state-run energy company BOTAŞ announced Wednesday that it has secured a contract to supply Romania with up to 1.5 billion cubic meters (bcm) of natural gas.
The agreement with Romania’s oil and gas group OMV Petrom stipulates that BOTAŞ will provide Romania with up to 4 million cubic meters of natural gas per day via pipelines. The contract period is set to run from Oct. 1, 2023, to March 31, 2025, according to a press release from the Turkish company.
“Besides natural gas trading, both parties agreed to expand cooperation in transmission, storage, production and green energy technologies,” BOTAŞ said in the release.
The announcement impacted the Bucharest Stock Exchange, where OMV Petrom’s shares traded 4.86 percent lower at 0.568 lei ($0.12/€0.11) as of 1230 CET on Wednesday, according to a report by the Seenews website.
Beyond natural gas trade, the deal lays the groundwork for future collaboration between the two companies in various energy sectors. Both BOTAŞ and OMV Petrom have expressed interest in strengthening partnerships in areas such as energy transmission, storage, and green technology.
With this latest deal, BOTAS’s total export commitments will amount to up to 3.3 bcm of natural gas. This figure approaches the total capacity of Turkey’s northern export route, which could be doubled with further investment, as indicated by Turkish authorities.