Acasă » Oil&Gas » Răzvan Popescu: Romgaz could issue bonds or take loans to finance Neptun Deep

Răzvan Popescu: Romgaz could issue bonds or take loans to finance Neptun Deep

21 February 2023
Oil&Gas
Bogdan Tudorache

Romgaz could issue bonds or take loans to finance Neptun Deep, Răzvan Popescu, CEO, Romgaz, said at a conference. He also said that the Neptun Deep project is meeting investors’ expectations in terms of profitability.

“The Neptun Deep project is in the last stages before the start of the works, we are in the procurement process, the last offers are being made regarding EPC 1 and EPC 2. The operator (OMV Petrom, e.n.) must make the final investment decision. We are ready in this sense, we have budgeted for 2023 expenses with the Neptun Deep project based on the data we assumed together with the operator OMV Petrom, and we are ready from all points of view for the start of the works,” said Răzvan Popescu.

“Such projects are usually not financed by own funds. Given that oil&gas projects are generally financed through debt issues and bond issues, we have the same plans. At the moment we are looking at both a collateralized loan, at the same time we can also look at bonds. For me, from the beginning the main idea was bonds with different maturities. We are looking at 5-7-10 years, probably in euros, to synchronize them with the bond curve issued by the Romanian state. I don’t see a problem with this in terms of future investment. And the production we have at the moment can support such an investment,” added Răzvan Popescu.

He also said that Romgaz is in the phase of the feasibility study for a new LNG terminal, and the contract with Socar represents a “safety net” for the safety of supply.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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