The gas storage is currently at 100.6% and, with what we will produce during the cold season, we should, in a moderate scenario, get through the coming winter without imports, Energy Minister Sebastian Burduja told a press conference on Monday."Several scenarios have been developed in the normative act related to the preparation for winter, which are related to the average temperatures and including the possibility of Romania supporting other countries, in particular supporting our brothers across the Prut. In a moderate scenario, Romania will not have any problem, given the degree of filling. And I'm telling you that today it's 100.6%. So, we have more than 100% of the technical reserve available at the storage capacity level. We have 400 million, 417 million to be precise, cubic metres more than last year at the same time. So, with what we'll still produce in the cold season, even if it is a lower production for technical reasons, with what we have in storage, we should be able to get through this winter without resorting to imports," said the minister.He pointed out that if the winter is very hard and if the Republic of Moldova requires support from Romania at a level that cannot be covered from stocks and production, there is the option of taking gas from Azerbaijan or resorting to a possible purchase of liquefied natural gas."We have the option to take gas from Azerbaijan. We still have this option secured from before my mandate and it is valid until next spring. We're talking about a billion cubic metres that we can draw if we need to. Or a possible purchase of liquefied gas from Greece, most likely, or another option," Burduja said.
Moldovan carrier Flyone will add a route between Bucharest and Munich starting in October. The flights to Munich will be operated on Mondays, Wednesdays, and Fridays. This adds to the flights it has connecting the Romanian capital to Tel Aviv, Brussels, and Verona. With these routes, the airline is responding to the constant demand from […]
The Romanian government has sent the European Commission a portfolio of projects for the development of the defense industry and the increase of military mobility. The proposals are meant to secure funding through the EU’s Security Action for Europe, or SAFE, initiative. According to the government’s press release, “approximately 70% of the projects...
Romanian electricity distributor and supplier Electrica listed the largest issue of green, corporate, and non-financial bonds on the Romanian capital market, reaching a total value of EUR 500 million, on July 30. The bonds, with the stock symbol EL30E, are registered, non-convertible, unsecured, denominated in euro, have a nominal value of EUR 1,000 each, and […]
Dracula Film Festival, the event dedicated to horror and fantasy film, has opened the call for entries in its four competition sections. The festival runs four competition: Dracula Trophy, an international feature film competition; Little Dracula, an international short film competition; Vladutz, a Romanian short film competition; and Dracula Digital, a competition dedicated to young […]
Investment firm Mozaik Investments has acquired a majority stake in Genesis College, a large private educational institution in Bucharest. After receiving all approvals, Mozaik will provide growth capital to accelerate the development of the educational network through investments in new campuses and the expansion of schooling capacity, as well as the development of the International […]
The Romanian investment fund market has surpassed the threshold of one million investors. Moreover, the net assets of the 248 open-ended and closed-ended funds reached RON 51.8 billion (EUR 10.2 billion) in June, according to data from the Romanian Fund Managers Association, or AAF. Specifically, 1,007,481 people in Romania had money in the local and […]
