Romania: Regional hub for energy security, at a time when energy policies are being reviewed

The National Energy System is sound and viable, and Romania has what it takes to be an energy exporter, says the Romanian line minister Anton Anton, adding that, at a time when energy policies are being reviewed in Europe and around the world, Romania is a participant in the establishment and development of the Energy Union together with the other EU member countries.

Bucharest aims to become a regional hub of energy security, and not just a sale market, to be an interchange of the transport routes that cross the European Union, as well as an efficient and competitive producer of natural gas and energy in Europe.

What are these goals based on? As Minister Anton puts it, on an energy mix that is a major competitive advantage for Romania in Europe: “We have a country full of resources. Romania is one of the few countries in the EU that can take pride in the diversity of their resources. With these resources, and with the low production capabilities that we have at present, we manage to cover the entire national demand for electricity, and, furthermore, we can also export energy in the region. Romania is an energy security hub.”

Moreover, once extraction begins on the Black Sea continental shelf, Romania may strengthen its position, and from an almost independent player in the European natural gas market it may reach a situation where it no longer needs Russian gas imports at all, says a Deloitte study made public recently.

Romania’s domestic output already covers most of the country’s natural gas demand. Out of the 28 EU member countries, Romania ranks 3rd, after Estonia and Denmark, as far as resource imports are concerned. Razvan Nicolescu, a former Energy Minister and currently working for the Deloitte agency, explained that offshore deposits might yield a total of 170 billion cubic metres of natural gas that is 5 billion cubic metres per year on average.

 

 

 

Read more on this story on Radio Romania International.

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