Black Sea energy investment will provide Romania with the necessary safety guarantees

   Investment in the Black Sea energy sector will provide Romania with the necessary safety guarantees, Chairman of Romania's National Energy Regulatory Authority (ANRE) George-Sergiu Niculescu said on Wednesday at the Black Sea Forum."This area of the Black Sea is a great hub and a great platform of energy resources. I must emphasise that Romania is the first country in the Black Sea region to have an Offshore Wind Energy Law. I must tell you for sure that we have huge ambitions. We want Romania to be the first country in the Black Sea region to develop a project for the production of electricity at the level of the Black Sea. We have significant investments in the Port of Constanta, because we cannot have an offshore wind sector without strong infrastructure in that port, which secures equipment operation and maintenance. I believe that the port of Constanta will win significant investment to develop the equipment in the port and I am convinced that Romania will be the first country in the Black Sea region to implement such technology. We are, after all, in a conflict zone, and the investment in the Black Sea energy sector will provide Romania with the necessary safety guarantees," Niculescu said.He added that the Black Sea area has a lot of potential in the energy sector."The Black Sea area has a lot of potential in the energy sector. 2-3 years ago, in June, an American company started producing natural gas in the Black Sea area. The company is called Black Sea Oil & Gas. OMV Petrom will start producing natural gas from the Neptun Deep area. Over 100 billion cubic metres are in this natural gas field and the project will allow Romania to export natural gas, i.e. energy security to the countries in our vicinity."Niculescu underlined the importance of Constanta County in the energy sector, stressing that it is a "real energy hub" in full expansion."I hail from Constanta; I am originally from Constanta and I am very interested in what is happening in Constanta and in the Black Sea area. I am a product of Constanta, I was born, I settled, I started a family there, I got an education, my whole career started in Constanta and I later came to Bucharest to be the deputy minister of energy, and my mission in the energy sector continues at the head of ANRE. It would be honest of me to say in this presentation that I will be a little subjective, having this affection for Constanta, which is clearly an energy security hub, is gaining momentum on the energy market. Considering that the county hosts the only nuclear power plant in the country, at Cernavoda, and Romania intends to continue its nuclear programme, doubling the area and power of the Cernavoda nuclear power plant from 1,400 MW to 2,800 MW of installed capacity."Also, in the region there are the largest wind power plants in the country, 500 megawatts installed in the Fantanele Cogealac area."We also have very high potential for solar energy, also in Constanta County, which is why we say that the region is a real energy hub that is booming. Another very important strategic project, the same one, appeared in Constanta, is the high-voltage cable that connects the Caspian Sea to Europe. As a result of the memorandum of understanding and cooperation signed in September 2022, Azerbaijan, Georgia, Romania will participate in the development of this infrastructure with the role of transporting renewable energy, from renewable sources, from the Caspian Sea, through Azerbaijan, Georgia, to Europe, thus feeding Europe's economies," said Niculescu.On Wednesday, at the Parliament House, the 'Frontier of the Future for a secure and stable Europe' Black Sea Forum took place.The forum addressed current issues, such as regional security in the Black Sea region, fiscal sustainability and predictability for strategic investments in Romania and in the region, PPP, infrastructure & connectivity, logistics, infrastructure, energy, IT&C.A dialogue panel was dedicated to Ukraine's reconstruction and related strategic opportunities.