“The energy transition trajectory is set,” said Christina Verchere, CEO of OMV Petrom, speaking at Spring Cocktail, the annual flagship event organized by Energynomics. “But the debate has always been and will continue to be what is the right pace for that transition.”
Verchere addressed the elite gathering of energy professionals, highlighting the complexity of the current global context and the importance of measured, adaptive strategies. “Volatility, unpredictability, complexity – these words we are using all the time right now,” she said. “Different technologies, different economics will drive the pace, different markets that we’re in will drive the pace and we need to be there to enable it.”
On track with gas
Referring to the company’s 2030 strategy, she emphasized the shift in balance toward low and zero carbon solutions: “In 2030 when we set out our strategy for 11 billion euros of investment, we had 35% going into low and zero carbon and 65% into fossil.” Within that, gas plays a crucial role, said Verchere who also provided an update on Neptune Deep offshore gas development: “I’ll be really honest – it’s a fantastic project.”
Beyond its technical scope, Neptune Deep stands as a testament to Romania’s capacity to deliver large-scale energy infrastructure, Christina Verchere emphasized. “It is a game changer for Romania… it’s also about doing something of this scale in Romania and proving that something of this scale can be done in Romania,” she said, underlining the project’s broader significance. She also highlighted the strong institutional and industry backing behind the initiative: “We have so much support from all the companies we are working with, all the Romanian authorities – everybody is focused on this project.”
She added: “The rig has now left Constanța, it is on its way, it’s on location and it’s getting ready to start drilling… this keeps us very much on track for first gas in 2027.”
Faster on renewables
OMV Petrom has recalibrated several major components of its 2030 strategy. The company increased its planned renewable power capacity from 1 GW to 2.5 GW, and expanded its portfolio to include both solar and wind projects. “We said we would go bigger and faster in renewable power” Verchere confirmed.
Biofuels are another key area, with a major investment underway. “We have announced one of the largest investments in HVO and SAF in the Petrobrazi refinery – 750 million euros – in addition with green hydrogen.” Yet, she explained, “we repaced that – before we said we’d be at 350,000 tons per annum by the end of the decade and we changed that to 250,000 tons per annum – again just an example of repacing in the context of the energy transition.”
This nuanced, responsive approach is necessary, she stressed, in order to avoid inefficiencies. “We need to be able to adapt pace [… and] watch that we don’t go too far too fast if we have assets that are not going to be used.”
In closing, she struck a note of industry resilience. On a note of cautious optimism, Christina Verchere underscored the resilience of the energy sector: “We wake up in a complicated world. But our industry has seen volatility before. We know how to adapt. For OMV Petrom, the glass is half full.”
For the 11th year in a row, Energynomics organized Spring Cocktail, an original concept event dedicated to the exchange of ideas on the Romanian energy industry. This year’s edition was supported by our partners: AJ Brand, Elektra Renewable Support, Electrica Furnizare, EnergoBit, European Energy, Hidroelectrica, Nova Power and Gas, OMV Petrom, Photomate, Renomia Gallagher, Romgaz, Software Media WEBUS 4 ENERGY, Waldevar.
On this occasion, we launched the 46th edition of the Energynomics Magazine, where we address key topics in the Romanian energy sector, such as the green transition and the need for sustainable industrialisation, economic opportunities from Ukraine’s reconstruction, energy market liberalisation, energy security and investment in renewables. We analyse 2025 market trends, including the impact of regulation, digitisation and energy storage. We also present major investment projects and technological innovation, along with the prospects for international energy collaboration.
“Investments are essential to ensure a modern, secure and sustainable energy system,” DEER CEO Mihaela Suciu told us. Volker Raffel, warns on the need for a rapid and efficient liberalisation of the energy market to avoid a chain crisis. State interventions in the energy market through capping schemes have disrupted natural market mechanisms and companies are still waiting for repayment of outstanding amounts. “Rapid expansion is key to meeting growing demand and staying competitive,” DRI CEO Ivan Geliukh told us. DRI, the renewable energy division of the DTEK Group, is accelerating investments in Romania and Central and Eastern Europe, with 1.4 GW already in operation and development.
Decision-makers, experts and managers are also featured in the new edition of Energynomics Magazine. Among them Jürgen Ludwig, REPOM * Dan Prodan, Vienna Energy * Cosmin Ghiță, Nuclearelectrica * Dragoș Gavriluță, Green Tech International, Daniel Apostol, FPE, Laurențiu Urluescu, AFEER, Peter Stohr, Premier Energy Group, Alexandra Floricică, ProCredit Bank, Zsuzsa Bereschi, EY Romania, Mihai Necula, Naxxar Energy Romania, Olivian Savin, Nano Energies, Ioannis Kalapodas, European Energy, Claudiu Crețu, ELCEN.