Romania committed to providing regional energy security

Romania is committed to using its diverse energy resources for strengthening both its own and the wider European energy system, its energy secretary of state, Andrei-Petrisor Maioreanu, said Tuesday

Romania is Europe’s fourth-largest natural gas producer. It covers about 90% of its annual gas demand of around 11 Bcm from its own reserves, with the rest imported from Russia.

Developing its Black Sea reserves could turn Romania into a net exporter, offering its southeast European neighbors an alternative to Russian gas.

“We are … concerned about diversification of routes and sources of energy supply,” Maioreanu told the Romanian Energy Day event in Brussels. “The main goal is to consolidate the European energy security system.”

The European Commission, however, is pursuing Romania over legislation that may restrict exports in breach of EU internal energy market rules.

“We still have the problem of export limits,” EU climate action and energy commissioner Miguel Arias Canete told reporters in April after a high-level regional energy meeting in Bucharest.

Romania’s offshore law requires operators to sell 50% of their offshore gas output in a centralized marketplace, and imposes a 2% tax on producers’ turnover of gas.

ExxonMobil and Austria’s OMV have put their Black Sea Neptun prospect — with estimated reserves of 42 Bcm to 84 Bcm — on hold while they review its commercial viability.

DIVERSE RESOURCES Romania has diverse energy resources, including oil, natural gas, coal and uranium reserves as well as hydropower potential, Maioreanu said.

“We can maintain our competitiveness and energy security provider status at regional level,” he said.

Romania has suggested sourcing 27.9% of its final energy demand from renewables by 2030 in its draft national climate and energy plan submitted to the EC. It has a binding target to reach a 24% share by 2020.

The EC is expected to give its formal recommendations on the draft national plans from each EU country next week, to ensure they collectively meet the overall EU 2030 targets of 32% for renewables and 32.5% for energy efficiency.

The national governments have to finalize their 2030 targets by the end of the year.

Source: spglobal.com

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