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Romania's OMV Petrom completes first LNG delivery on local market

Romania's OMV Petrom completes first LNG delivery on local market OMV Petrom completes first LNG delivery Source: OMV Petrom

BUCHAREST (Romania), September 17 (SeeNews) - Romanian oil and gas group OMV Petrom [BSE:SNP] said on Friday that it has made the first liquefied natural gas (LNG) delivery to Damen Shipyards Mangalia, the largest shipyard in Southeastern Europe.

The product was used to fuel a ship equipped with LNG engines, the first ship of this type, built in Romania, at the Damen shipyard in Mangalia, OMV Petrom said in a press release.

"The first LNG delivery in Romania is another step we are taking in expanding the offer of low-emission transport products," Radu Caprau, member of the OMV Petrom executive board and responsible for downstream oil, said.

"In the context of the energy transition, the use of LNG in transportation and industry can lead to a significant reduction in carbon emissions and pollutants. Romania has a significant potential for natural gas, and capitalising on it, liquefaction included, opens new horizons for the Romanian economy and contributes to the climate agenda objectives," Franck Neel, member of the OMV Petrom executive board responsible for downstream gas, said.

According to the company, LNG is a transitional alternative for a cleaner transport, especially for the transport segments that are more difficult to decarbonise such as heavy road freight and naval transport. By using LNG in transportation, the CO2 emissions decrease by 15%, the nitrogen oxide emissions drop by 50% and the heavy particles are 99% lower. In addition, LNG does not generate sulfur emissions and this way is compliant with the strict provisions of International Maritime Organization.

OMV Petrom announced its entry on the LNG distribution market in June.

OMV Petrom is the largest integrated energy company in Southeast Europe, with an annual group hydrocarbon production of 53 million boe in 2020. The group has a refining capacity of 4.5 million tonnes per year and is present on the oil products retail market in Romania and neighboring countries through 789 filling stations as at the end of June, under two brands – OMV and Petrom.

OMV Petrom's shares traded 1.06% lower at 0.4650 lei ($0.11/ 0.09 euro) as at 1040 CET on Friday on the BVB.

(1 euro=4.9482 lei)