EnerMin Popescu: Once exploitations start in Black Sea, Romania to produce more gas than it consumes

The Energy Minister, Virgil Popescu, stated on Tuesday that, once exploitations start in the Black Sea, Romania will produce more gas than it will be able to consume.

"Once exploitations in the Black Sea start, the Romanian state, Romania will produce, practically, more gas than it will be able to consume. We have until the end of 2026, 2027 to prepare so that we consume as much as possible and we will also become a provider of regional energy security," maintained Virgil Popescu, at the debate in the specialty committees of the Chamber of Deputies on the draft offshore law.

He mentioned that the draft was initiated together with the leaders of the governing coalition.

"It's a draft law that wants to unlock investments in the Black Sea. Let us not forget that the law which was approved in Parliament in 2018 practically blocked investments in the Black Sea. (...) This draft law comes to unlock, ensures stability and predictability of the legal framework, it removes a taxation threshold of under 85 RON given that probably the cost price, from estimates, is nearing this figure and it's not normal to tax cost price and, ensures, on the other hand, a mechanism of the Romanian state so that, in case of crisis, it ensures, with priority, Romania's supply and, also, a check of bilateral contracts, exactly to prevent possible issues in Romania's natural gas supply," Virgil Popescu explained. AGERPRES