Conclusions of “The Black Sea in the New Economy” event: Romania has the largest reserves of natural gas in Central and Eastern Europe, ranks third in the EU

The natural gas deposits in the Black Sea can be a strategic resource, and their superior capitalization can effectively contribute to the reconstruction of the Romanian economy post-pandemic and to directing the national economy towards a long-term upward trend.

The new European context created by the Green Deal underscores the opportunity to start exploiting the Black Sea gas – a historic opportunity, but under the pressure of strategic decisions against the clock. Moreover, by taking advantage of the potential of the Black Sea subsoil and deep-sea onshore resources, Romania can reach a sufficiently high level of domestic production to become a provider of energy security in the region. A reality that even the members of the Executive recognize.

GEORGE NICULESCU, Secretary of State in the Ministry of Energy: ABOUT ROMANIA’S OPPORTUNITIES THROUGH THE BLACK SEA – Romania has the largest reserves of natural gas in Central and Eastern Europe and ranks third in the European Union. Taking advantage of the potential of the Black Sea subsoil and deep onshore resources, our country can reach a sufficiently high level of domestic production to become a provider of energy security in the region. A reality that even the members of the Executive recognize. Moreover, George Niculescu, Secretary of State in the Ministry of Energy, declared during the “Black Sea in the New Economy” Event that he wants us to become exporters of technology for neighboring countries.

IULIAN FOTA, National Security Expert, New Strategy Center ROMANIA, GATE FOR THE WEST:  Today, the relevance of the Black Sea is increasingly outlined from diplomatic, strategic and geopolitical perspectives, so Romania has an important card to play and must play it smart and fast, because the window of opportunity is limited, and with the gates closed and history proves that we are losing, said Iulian Fota, National Security Expert, New Strategy Center, during the “Black Sea in the New Economy” event.

ALINA POPA, CFO, Managing Member of OMV Petrom: ABOUT THE MYTHS OF ROMANIAN TAXATION, such as “Romania receives very little from the exploitation of oil and gas resources.” The statement is already a myth that no longer stands, says Alina Popa, CFO and Member of the Management Board of OMV Petrom. People understood that no one “steals our country”, moreover, whoever invests in the Black Sea brings us money.

ALEXANDRU MAXIMESCU, Vice President of Regulatory & Corporate Public Affairs OMV Petrom: WHY IS THE BLACK SEA IMPORTANT FOR ROMANIA? Romania has a great chance, which few countries have in the world, namely their own natural gas resources. However, investments are blocked, and other Black Sea countries are ahead of us. Representatives of the Oil and Gas Industry hope that the authorities will understand, even in the 13th hour, that natural gas in the Black Sea can contribute to both sustainable development and the energy transition in the context of the Green Deal.

CĂTĂLIN NIȚĂ, FPPG Executive Director: ABOUT THE NEED FOR OFFSHORE LAW 2021 is a crucial year for the Black Sea, and the fact that the industry has been on standby for a long time, due to the Offshore Law, only hurts both investors and Romania, said Cătălin Niță, Executive Director of the Oil and Gas Employers’ Federation, during the discussions that took place during the “Black Sea in the New Economy” event.

DUMITRU CHISĂLIȚĂ, President of the Intelligent Energy Association: ABOUT THE CURSE OF OWN RESOURCES The curse of one’s own resources! This is how Dumitru Chisăliță, President of the Intelligent Energy Association, characterized the current situation of natural gas in the Black Sea. The energy specialist wanted to draw attention during the event “Black Sea in the New Economy”. that the blockade of investments will attract a gas deficit of over 50% in Romania in the next two decades.

VASILE IUGA, Senior Energy Expert: ABOUT THE EFFECTS OF NATURAL GAS IMPORTS: The natural gas deposits in the Black Sea can be a strategic resource, and their superior capitalization can effectively contribute to the reconstruction of the Romanian economy post-pandemic and to directing the national economy towards a long-term upward trend.

More on the event here: https://www.em360.ro/marea-neagra-in-noua-economie/.