FPPG welcomes the governing coalition’s initiative to reintroduce Offshore Law in parliament

The Oil and Gas Employers Federation (FPPG), an organization that brings together the main producers of natural gas, which covers over 98% of domestic production, welcomes the reintroduction of the Offshore Law in the parliamentary circuit.

“This first step is essential to ensure the competitiveness and stability of the fiscal regime while respecting the mechanisms of a free gas market, and which, if implemented, would allow the start of strategic investments in the production of Black Sea resources. Unlocking these legislative changes is indispensable not only for Romania’s energy security, but also for the regional one, especially in the new context of sanctions against Russia. FPPG members are currently assessing the proposed amendments, both those discussed for a long time in the public space, as well as novelty elements and their impact on natural gas developments in the Black Sea. FPPG’s consolidated position will be outlined in the near future,” a FPPG release shows.

“The oil and gas industry is now at a turning point. In the current geopolitical situation, the urgent need to increase domestic production is a responsibility that both the producing companies and the decision-makers of the Romanian state carry on their shoulders, and this responsibility is not only towards their own citizens but also towards the entire European project of which Romania is part of. We welcome the entry of the offshore law into the parliamentary circuit and continue to assume a significant role in the dialogue that will be fundamental for reestablishment of a just economic balance required for offshore gas developments as an essential condition for the consolidating of the national energy security and for a sustainable energy transition”, says the Executive Director of FPPG, Cătălin Niță.