Romania could become a natural gas exporter by 2020, after last year’s discovery of gas deposits in the Black Sea, said Marc Beacom, the general director of the Romanian division of Sterling Resources. The Canadian company owns the exploitation rights for the Midia and Pelican sections of the Romanian Black Sea sector.
The discovery could potentially bump Romania’s gas reserves to 600 billion cubic meters, Beacom said, adding that gas exploitation could cost $30bn with operational expenses reaching $25m.
Sterling Resources also has operations in Great Britain, Holland and France.
