Romania Is the Largest Natural Gas Producer in the EU

In the second quarter of 2024, Romania emerged as the largest natural gas producer in the European Union for the first time, producing 2.3 billion cubic meters (bcm), according to data compiled by the European Commission. This marked a 4% decrease from the previous quarter but a 1% increase year-on-year. The Netherlands, the leading producer, saw its output decline to 2.23 bcm, reflecting an 18% drop from the previous quarter and a 17% decline year-on-year. Germany remained in third place with 0.9 bcm, followed by Italy at 0.7 bcm and Hungary at 0.4 bcm.

Year-on-Year Production Changes

• Increased Production:
  • Denmark: +37%
  • Spain: +21%
  • Greece: +16%
  • Hungary: +12%
  • Belgium: +10%
  • Czechia: +3%
  • Romania: +1%
• Decreased Production:
  • France: -46%
  • Italy: -1%

Austria’s production remained stable, with a slight increase of 0.46%.

In comparison to the previous quarter, five member states experienced production growth:

• Denmark: +34%
• Hungary: +1%
• Spain: +1%
• Croatia: +1%
• Slovenia: +1%

Conversely, twelve member states faced declines ranging from -2% (Italy) to -74% (France).

Implications

The shift in production dynamics reflects broader trends in EU energy markets, particularly following structural changes initiated by geopolitical events such as Russia’s invasion of Ukraine. The overall EU gas production fell by 18% year-on-year, totalling approximately eight bcm for the quarter, indicating significant adjustments in supply and demand within the region.

Also, Romania is poised to become even more significant as a natural gas producer after Neptun Deep becomes operational. This project is expected to significantly boost Romania’s natural gas production capabilities, with estimates suggesting it could yield around 100 billion cubic meters of gas, enough to supply approximately 30 times the annual demand of around 4.3 million households.

Even so, Romania’s Minister of Energy expressed disappointment with NGOs like Green Peace blocking Romania’s energy projects, such as Neptun Deep. In his opinion, this blocks the country’s energy independence.