All conditions will be in place for Romania to become a natural gas hub once production in the Black Sea starts, Chairman of the Chamber of Deputies Committee on the Environment and Ecological Balance Virgil Popescu, a former energy minister, said on Monday."All conditions will be in place for Romania to become a natural gas hub and I am convinced that we will manage to be a natural gas hub once production in the Black Sea starts," Popescu told the Natural Gas Forum 2023 by Financial Intelligence.Regarding the hydrogen projects, Popescu said that Romania is at the beginning in terms of hydrogen production."We had a milestone in the National Recovery and Resilience Plan (PNRR) regarding the production of hydrogen. A call for projects has been resumed - I understand that it is currently being evaluated - in my opinion, hydrogen is the fuel of the future, it is a non-polluting fuel. Obviously, we still have a long way to go to get there, to use hydrogen on a large scale, but hydrogen production facilities have to be developed. In my conversations with Azerbaijan, Georgia, Romania, Bulgaria about that electric power cable - and maybe you're wondering about this transition to electric energy, to this bridge between the Caspian Sea and the Black Sea - we are talking about renewable energy, and the discussions were about producing hydrogen from this green energy and trying - after a feasibility study - to see what is more cost-effective: to bring renewable energy to Romania through that cable, to produce hydrogen here or to produce hydrogen, for example, in Georgia and transport that hydrogen across the Black Sea. As you can see, we are preparing in all ways, so that Romania may become an important node in European hydrogen production. I believe in hydrogen and I am convinced that Romania will manage to become an important node of hydrogen production and hydrogen transport in Europe," said Popescu.OMV Petrom and Romgaz announced this summer that they will invest up to EUR 4 billion in the development stage of the Neptun Deep project, which will generate a production of about 100 billion cubic metres of natural gas. OMV Petrom is the operator, with each of the companies holding a 50% stake in the project. The first production is estimated in 2027. The peak production is put at 8 billion cubic metres annually (about 140,000 boe/day), for about 10 years.
Romania’s acting minister of defence, Radu Miruță, has asked Parliament to grant prior approval for the signing of a framework agreement with Lockheed Martin for the training of F-16 flight personnel at the European F-16 Training Center (EFTC) hosted in Romania,
Former Social Democrat (PSD) transport minister Răzvan Cuc was detained by prosecutors from the National Anticorruption Directorate (DNA) on suspicion of complicity in bribery, the DNA announced on Tuesday, December 16. Cuc, a member of the Social Democratic Party who served as minister of transport in the governments led by Sorin Grindeanu (currently the leader […]
Regions across Romania will receive a financing boost as a result of a EUR 25 million loan that CEC Bank is receiving from the European Investment Bank (EIB). CEC Bank will channel the EIB credit into public-sector projects that promote sustainable economic development, particularly in Romanian regions where the shift to a greener industry is […]
Local authorities in Buzău aim to convert the nearby military airbase Boboc, 117 km northeast of Bucharest, into a secondary airport with dual military and civil use. The final decision will be based on Romania's security interests and requires multiple permits, the Ministry of Defence said, according to Adevarul.ro. ...
Romanians purchased RON 1.49 billion (nearly EUR 300 million) under the last Fidelis issue this year, organised by the Treasury in December, with over two-thirds of the money being placed in euro-denominated debt and more than one-third of the total being placed in long-term 10-year euro-denominated debt with a 6.2% coupon attached, according to data […]
Environment minister Diana Buzoianu announced that the ministry she leads has launched the procedures for a feasibility study aimed at planting 380 hectares of forest shelterbelts in southern Romania, a region increasingly affected by desertification. According to the announcement, the project would result in more than 126 kilometers of tree lines planted along national roads. […]
