Romgaz has signed a financing agreement worth 325 million euro with Raiffeisen Bank, for the partial financing of the acquisition of EMEPRL shares, an entity that owns 50% of the rights and obligations related to the Neptun Deep perimeter, the company announced.

“Romgaz will use the loan to partially finance the purchase price that will be paid for all shares issued by Exxon Mobile Exploration and Production Romania Limited (EMEPRL), which owns 50% of the rights and obligations related to the Neptun Deep perimeter. The EUR 325 million loan facility has a maturity of five years and is linked to Romgaz’s overall financial performance. The facility, in which Raiffeisen Bank acts as a creditor, provides Romgaz with financing for its resource development plan, covering part of the purchase price of all shares issued by EMEPRL,” says the company release.

„The signing of this financing agreement is necessary to achieve an important objective assumed in the Romgaz Development Strategy for the period 2021-2030, respectively to complete the acquisition of EMEPRL shares which holds 50% of the rights and obligations related to the Neptune Deep perimeter. It is a first step that proves our determination to maintain Romgaz as the most important player on the Romanian gas market and to position ourselves strategically in the current geopolitical context. The development and exploitation, as soon as possible, of the deposits with commercial potential from the Neptun Deep perimeter will ensure the addition to the Romanian natural gas production of considerable volumes that will support, without a doubt, the security in the country’s natural gas supply,” said Romgaz CEO Aristotel Jude.

“The cooperation with the financial partners aims to ensure the competitive financing of the acquisition of EMEPRL shares, a strategic investment objective of Romgaz, meant to contribute in a real way to the consolidation of energy security. This agreement is the first stage of financing necessary for Romgaz in the context of the Neptun Deep project, and after the completion of the transaction for the acquisition of EMEPRL shares, we will start the formalities to ensure the future financing necessary for the Romgaz group for the development of the Neptun Deep project,” added the Economic Director of Romgaz, Răzvan Popescu.

“The 325 million euro financing agreement we reached with Romgaz is an example of our commitment to supporting the transition to a greener economy, enabling companies to implement their sustainable strategies,” said Catalin Cepisca, Senior Director, Raiffeisen Bank.

“The transition to a zero-emission energy system is possible with strong energy champions such as Romgaz, which ensures security of supply in the region throughout the process. We are delighted to be the main financing bank of the company and we consider that this significant facility is a clear indication of our support for the energy sector,” he concluded.