The Presidents of Romania and Bulgaria Klaus Iohannis and Rumen Radev discussed on Tuesday the diversification of energy sources and transport routes amid efforts to reduce energy reliance on the Russian Federation."With the mounting need to reduce energy reliance on the Russian Federation, we discussed the diversification of energy sources and transport routes. We also emphasized the importance of the speedy commissioning of the Bulgaria-Greece interconnector. Once completed, this can be connected to the already operational BRUA pipeline for the key important Vertical Gas Corridor to become operational," President Iohannis told a joint press conference delivered with his Bulgarian counterpart at the Cotroceni Palace.Klaus Iohannis brought to mind that he had also discussed the matter with Greek Prime Minister Kyriakos Mitsotakis, and there are promises for the interconnector to be switched on by the end of this year."And then we can benefit via Bulgaria from liquefied natural gas that will be unloaded off the Greek port [of Alexandroupolis]. On the other hand, work is underway on other alternative gas supply routes and we are in advanced negotiations with several sources. It is obvious that by the beginning of the winter of 2022 - 2023 we must have viable gas supply alternatives in place," Iohannis added.President Radev noted that the Bulgaria-Greece interconnector is several years behind, but stressed that effort is put in to recover the delay. According to the Bulgarian President, the company in charge of the project has promised that works will be completed in July.The initial transmission capacity is 3 billion cubic meters per year, this is in fact the annual consumption of Bulgaria, and it can be increased to 5 billion, and as far as I know Romania's gas output is of over 11 billion cubic meters per year, said the Bulgarian President.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
