As Romania positions itself at the confluence of European energy security, industrial transformation, and climate imperatives, few voices offer a more qualified perspective than Franck Neel. He had a thorough conversation with Gabriel Avăcăriței and Paul Șerbănescu at “WATTs Next”, the new podcast format by Energynomics. As a member of the OMV Petrom executive board and chairman of the Romanian Employers’ Federation of Energy, Neel provides a roadmap not only for his company’s evolution, but also for the strategic realignment of Romania’s entire energy ecosystem. His views reflect both the operational realities and the forward-looking mindset necessary to navigate the complexities of energy transition in 2025.
Neptune Deep – the anchor of Romania’s energy security
“Gas is the transition fuel,” Neel states clearly, placing it at the heart of both OMV Petrom’s strategy and Romania’s broader energy evolution. He emphasizes its dual importance: “It’s important because it’s Romanian resources,” and it helps “to become a regional player.” Citing economic impact, Neel refers to a study commissioned by the Employers’ Federation: “With 1 billion, you generate 6 billion in terms of GDP and 3 billion in terms of tax—direct and indirect taxes.” He concludes that this “is really massive,” underscoring natural gas’s role not only in supply security but also as “strategic” for the national economy.
For Neel, the Neptune Deep offshore gas project stands as a cornerstone of Romania’s energy future. It is not merely a massive infrastructure investment but a strategic shift. “These are Romanian resources,” he explains. “It’s important to extract them from the ground because at the end they are here.” Neel also highlights another value of Neptune Deep’s, beyond securing domestic supply security – to elevate Romania to a regional role, something which is no longer aspirational—it’s already in motion, as OMV Petrom positions itself as a key gas and power trader from Greece to Hungary and Moldova.
What’s more, the project is on time, on budget, and safely progressing, with drilling operations beginning in 2025., Neel says, also noting the impressive achievement of “2.5 million working hours on the project” without incidents. Drilling is underway, and platform construction is advancing, with production expected to begin in 2027. Combined with continued onshore production, Romania is positioning itself as a regional supplier of natural gas.
Investment strategy and the reality of transition
OMV Petrom’s 2030 strategy, developed in 2021, defines a three-pillar approach: traditional fuels, regional gas development, and new energies. “The direction in terms of energy transition… stays in line with our target 2030,” says Neel. However, the route is constantly reassessed. “Sometimes you have to adapt the route and potentially the investment to reorient some investment.”
In this context, OMV Petrom increased its renewables ambitions and recalibrated its approach to biofuels, shifting focus toward SAF (sustainable aviation fuel). Crucially, OMV Petrom’s transformation is not confined to Romanian borders. Exploration in Bulgaria’s Black Sea is scheduled for 2025, leveraging geological insights and engineering expertise gained from Neptune Deep. This integration reflects a regional strategy, with Romania at the helm.
Renewables, storage, and the untapped potential of Romania
While gas remains a transitional pillar, Neel is quick to highlight Romania’s immense untapped potential in renewables. From a 650 MW onshore wind farm in partnership with Renovatio to over 700 MW of photovoltaic capacity underway, OMV Petrom is building at scales that rival Western European benchmarks. The company is also developing a 500 MW solar park on reclaimed industrial land—a blueprint for how brownfields can be transformed into green assets.
Neel underscores that Romania’s competitive advantage lies in the abundance and diversity of its natural resources: wind, sun, water, and geothermal. While hydroelectric capacity is mature, geothermal has barely scratched the surface, and a pilot in Timișoara could pave the way for district heating applications and even green electricity production.
The next frontier – biomethane and carbon storage
The energy transition is not only about megawatts and molecules—it’s about ecosystems. And two areas where Romania has the potential to lead are biomethane and carbon capture and storage (CCS).
The biomethane opportunity is particularly compelling. “We estimate around 2 bcm of green gas potential annually—about 20% of Romania’s current consumption,” Neel notes. The feedstock exists in abundance—from agricultural waste to city refuse—but regulatory frameworks are missing. Through the Employers’ Federation, discussions with grid operators and authorities are underway to unlock this segment.
Similarly, Romania’s geological assets make it a natural hub for CCS in Southeast Europe. OMV Petrom has already identified multiple onshore and offshore sites suitable for long-term CO₂ storage. Legislation is advancing, and a business model—including logistics and transport—is under construction. “We need now the support scheme, especially for storage.” The Federation is also pushing for regulatory frameworks and EU funding access to enable carbon storage. With the right support schemes, even early projects could be de-risked and costs driven down, Neel says, drawing parallels with the early days of solar energy in Europe.
On the subject of hydrogen, Neel urges caution. The European Commission’s target of 20 million tonnes of hydrogen—produced or imported by 2030—is, in his view, overambitious. “There was a myth that electricity will cost nothing and therefore hydrogen will be very cheap. That’s clearly not the case,” he notes. While OMV Petrom has invested in a refinery-based electrolyzer for SAF production, Neel believes policy frameworks should be technology-agnostic and focused on CO₂ reductions, not on dictating the means.
Jobs, innovation, and the future of energy
Far from being a job killer, Neel sees artificial intelligence and digitalization as accelerators of innovation. “I’ve never seen so much innovation in the energy industry in 35 years,” he says, listing geothermal, CCS, SAF, and SMRs as just a few examples. On artificial intelligence (AI), Neel dismisses alarmism: “There’s a myth that AI will destroy jobs. I don’t believe in it.” He goes on to clarify that, “at the end, it’s [only] application. We are using applications today… for data analysis, etc.” For him, AI is a tool, not a threat: “AI is to bring application to the business to improve the way we work. So yes, we are using it and we’ll use more AI in the future.”
The real challenge for Romania is not a shortage of technology, but the speed of institutional adaptation. Regulatory frameworks, public-private coordination, and access to EU funds must evolve faster to match the industry’s pace. OMV Petrom has tapped into several funding sources—from NRRP to the EU Innovation Fund—but the scale of the transition requires broader, systemic support.
In Franck Neel’s analysis, Romania is uniquely positioned—with Black Sea gas flowing, record investments in renewables, and a credible carbon capture roadmap, Romania could become a model for Southeast Europe’s energy transition. However, the pace of legislative reform, the capacity to attract funding, and the ability to execute large-scale infrastructure projects will determine whether this promise is fulfilled.
Regulatory limits, financing limits
Romania’s energy ambitions are increasingly constrained not by technical feasibility, but by legislative inertia. As Franck Neel notes, “there’s no regulation to authorize biomethane injection into the grid”, and although “things are moving” on carbon storage, the absence of fully operational frameworks for geothermal and CCS continues to delay investment decisions. Without a faster, more coherent regulatory response, Romania risks underutilizing strategic resources that could otherwise position it as a regional energy leader.
Also, access to financing remains a critical fault line between ambition and execution. While OMV Petrom has secured EU support for electrolyzers and carbon capture pilots, Neel is unequivocal: “Financing is difficult in Romania… support schemes help us reach 100% financing”. He warns that without structured financial mechanisms—like those that once launched the solar industry—pioneering technologies such as biogas, SAF, or CCS will stall at pilot stage, depriving Romania of both climate benefits and industrial competitiveness.
Looking ahead, the choices Romania makes in the next few years will shape not only its energy mix, but its economic resilience, industrial competitiveness, and regional influence. With abundant natural resources, engineering expertise, and strategic positioning, the country is uniquely placed to lead Southeast Europe’s energy transformation. Yet unlocking this potential will depend on regulatory agility, financial coordination, and the sustained ability to deliver large-scale projects at pace and scale. For Franck Neel, the direction is clear: energy transition is no longer a matter of choice, but of necessity—one that must be managed with balance, pragmatism, and an acute understanding of each country’s unique capabilities. Romania, he believes, is exceptionally well-positioned to rise to the challenge.
About “WATTs Next”
“WATTs Next” is the new podcast by Energynomics dedicated to energy leaders, designed to provide a clear understanding of the people shaping the industry, their visions for the future and emerging challenges. Its main goal is to go beyond standardized answers and delve into the personal and professional perspectives of the interlocutor.
The interviews are structured in three essential directions:
- Shaping a personal and professional profile, providing an authentic picture of the career path and values of the interviewed leader.
- Analysis of the most current topics, to understand what’s next in the industry, what the implications are for companies and consumers, and what we should prepare for.
- Explanation of some essential concepts, by debunking myths and clarifying complex notions for a wider audience.
