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EconMin Popescu: I wish Romgaz be part of consortium to start gas exploration in Black Sea

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virgil popescu

The Minister of Economy, Energy and the Business Environment, Virgil Popescu, stated on Wednesday that he wishes that Romgaz be a part of the consortium that will start gas exploring in the Black Sea, because only in this way can the distribution network for natural gas be extended.

"Romgaz is negotiating to start investments in exploiting gas in the Black Sea and I wish them to be part of that consortium that will start exploiting gas in the Black Sea, because that is the only way in which we can have gas and extend the distribution network for natural gas and Romanians can benefit from Romanian gas for heating," said Popescu, on the occasion of launching the National Investment and Economic Relaunch Plan of the Government of Romania.

According to him, on the whole energy system, only from the budget of the companies, there will be 12.5 billion euro for investments in the next five years.

Thus, the minister emphasized, Romgaz has a very ambitious investment program, "innovative", and, beside completing the plant in Iernut and constructing a new plant in Mintia, has a new concept approved.

"Practically, we are integrating the production of solar or wind energy with the production of green hydrogen, together with the production of electric energy based on gas, so that this new plant, which is approved and will be firstly a pilot, of 200 MW, installed in the place of the old plant in Halanga, in Mehedinti county, which is in bankruptcy, will be under the minimum that is discussed presently at the [European] Commission: 200g CO2 emissions," Virgil Popescu said.

He added that there will be new investments also in petrochemistry, as Romgaz proposed to invest in a methanol factory. He also mentioned that Hidroelectrica is to invest in off-shore and on-shore wind farms, while Nuclearelectrica will continue investments in refurbishing Unit 1 and constructing Units 3 and 4 of the Cernavoda Nuclear Plants.

"There are many things that can be done. Transgaz and Transelectrica will continue their expansion through investments. Tranzgaz will finalize BRHA [pipeline], will develop the national transport network, will ensure the interconnection with the neighboring states. Transelectrica will increase the interconnection with the neighboring states and will close the ring, so that Romania will be able to transport without congestion electric current from north to south and from east to west," the Minister of Economy also stated.

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