Romania could start importing liquefied natural gas (LNG) from Israel via Egypt in order to reduce its dependence on Russian gas, Romania's energy ministry said on Wednesday. "This morning we had a very good dialogue with the representatives of NewMed Energy, a Delek group company, which exploits the largest offshore gas field in Israel. We told them that we were interested in diversifying our supply sources and that we could import LNG from Israel via Egypt. We must seize all the opportunities to strengthen Romania's energy security," Romanian energy minister Virgil Popescu said in a press release. Delek Drilling changed its name to NewMed Energy earlier this year, and announced a strategic restructuring, deepening of the operating areas into alternative energy segments, including production of hydrogen, promotion of carbon capture and storage, and investment in renewable energy, as well as exploration for natural gas in new areas. Virgil Popescu and a delegation comprising CEOs of Romanian nuclear power plant operator Nuclearelectrica, hydropower producer Hidroelectrica and natural gas producer Romgaz visited Israel this week in order to secure cooperation in the energy sector. Popescu said in a post on social media on Wednesday that he also met with his Israeli counterpart Karine Elharrar, who said that Israel is determined to support Europe's efforts to reduce its dependence on Russian gas. The Romanian delegation also held talks with representatives of Israel's largest power supplier - Israel Electric Corporation, and renewable energy projects developer Doral-Energy. Earlier this month, Popescu said during a talk-show on local broadcaster Profit TV that Romania covers up to 28% of its natural gas needs with imports, most of them from Russia.
Romania’s planned increase in the dividend tax rate from 10% to 16% is expected to generate RON 3.6 billion (EUR 720 million) in annual revenues, finance minister Alexandru Nazare said on June 23 following his hearing before the expert committee in Parliament. “Yes, it is an annualised amount for next year, with an impact of […]
Romania’s new government, backed by the four pro-Western parties in Parliament holding a majority of 65%, has not published its ruling strategy, while versions of it have leaked to the media, providing a broad image but not very specific details. Notably, the strategy is expected to incorporate the elements outlined in the updated fiscal plan […]
Romania's new government, headed by prime minister Ilie Bolojan and backed by the four pro-Western parties in Parliament, was endorsed with a majority of 65% of the votes (301 of 465 MPs) and already held its first meeting on Monday, June 23, according to Hotnews.ro. The endorsement...
The European Bank for Reconstruction and Development (EBRD) announced on June 23 that it has received "multiple binding offers" for the acquisition of Giurgiulesti International Free Port (PILG), Moldova's main port. Romanian and Bulgarian ports have expressed their interest in PILG in the past,...
OMV Petrom (BVB: SNP), the largest integrated energy producer in South-Eastern Europe, announced it has entered into a partnership with renewable energy company Enery to jointly develop a 400 MW photovoltaic project in Byala Slatina, near Sofia, Bulgaria. The project is estimated to cost EUR 200 million, the company confirmed on June 24. As part […]
The number of micro-enterprises in Romania has dropped significantly to 326,461 in 2024 from a peak of over nearly 900,000 in 2022, according to Profit.ro. The decline follows successive tax regime restrictions...
