Romania’s OMV Petrom in LNG distribution move

Romania’s energy firm OMV Petrom said it has secured a license to commercialize liquefied natural gas as it looks to supply LNG to the transport sector.

OMV Petrom said in a statement on Tuesday that LNG-powered trucks were a “cleaner” alternative to diesel trucks as they reduce emissions.

Franck Neel, member of OMV Petrom’s executive board responsible for downstream gas said the firm’s “entry on this market is a natural development.”

“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,” he said.

Neel added that natural gas has multiple applications in power production, transportation and industry, and can also contribute to reducing emissions and strengthening energy security.

“And liquefied natural gas represents a cleaner solution for the mobility sector,” he said.

LNG could also supply remote areas not connected to the natural gas transmission networks.

In terms of industrial uses, LNG can be utilized as an energy source, providing added efficiency and operability, OMV Petrom said in the statement.

OMV Petrom, the largest integrated energy company in Southeast Europe, has an annual hydrocarbon production of 53 million boe in 2020, according to the statement.

Moreover, the group operates in the retail market in Romania and neighboring countries through 790 filling stations, under two brands – OMV and Petrom.

Austria’s OMV holds a 51% stake in the Romanian firm.

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