Wednesday, February 28, 2024
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OMV Petrom enters the LNG distribution market

OMV Petrom, the largest integrated energy company in South-Eastern Europe, has obtained a license to commercialise liquefied natural gas (LNG) opening the way of diversifying its activities on the gas market and related products.

“OMV Petrom’s entry on this market is a natural development,” pointed out Franck Neel, member of the OMV Petrom Executive Board, responsible for Downstream Gas. “We believe that natural gas plays an essential role in the energy transition of Romania, especially due to the fact that we can access these resources.”

Mr Neel pointed out that natural gas has multiple applications in power production, transportation and industry and can also contribute to reducing emissions and strengthening energy security, while LNG represents a cleaner solution for the mobility sector.

LNG can be used in the mobility sector as an alternative to conventional fuels, providing a cleaner alternative with emissions of up to 15 per cent less CO2, 50 per cent less nitrogen oxide and also 50 per cent less noise compared with diesel trucks.

Additionally, processed biogas can be mixed with the fuel LNG to further reduce CO2 emissions. Adding 20 per cent processed biogas, for instance, improves an LNG truck’s environmental performance by up to 24 per cent.

LNG also provides a solution for the supply of the areas that are not connected to natural gas transmission networks. In terms of industrial uses, LNG can be utilised as an energy source, providing added efficiency and operability.

Last year OMV Petrom has allocated approximately 72 million euros to develop communities in Romania, focusing on environmental protection, education, health and local development. One year ago the company announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.

“We believe that energy transition requires multiple solutions and we should look at these solutions taking into account the specific of the region, availability of natural resources, availability of technologies as well as the current energy system,” said Christina Verchere, the CEO of OMV Petrom in a recent interview with CEENERGYNEWS adding that natural gas is definitely a key element for a successful energy transition in Romania and the region.

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