The CO2 storage obligations set out in the "Net-Zero Industry Act" (NZIA) are far disproportionate to Romania's emissions, Secretary of State at the Ministry of Energy Cristian Busoi told a specialised conference on Tuesday.
"At the European level, we are taking action and lobbying to increase interconnection capacities. You know we have this congestion point between Austria and Hungary, no connection between Austria and Slovakia, and we cannot benefit from favorable electricity prices at certain times of the day or import electricity at better prices from northern and western Europe. We are also lobbying for the simplification of methane emissions legislation, which places very high pressure and additional costs on Romania's oil and gas companies. We are trying to make the European Commission understand that we will not be able to implement investments in CO2 storage and capture. The obligations under the Net-Zero Industry Act represent billion-euro investments for Romgaz and OMV Petrom and are not economically justified. The storage obligations for these companies and for Romania are far disproportionate to Romania's emissions. In respect to CO2, we advocate for the role of natural gas and for understanding its role at the European level during the transition period and even beyond 2050," the representative of the Ministry of Energy said.
The official also mentioned that Romania needs to double its investments in storage capacity in order to maintain the national energy system in balance.
He underscored that the Ministry of Energy is actively involved in implementing investment projects supported by European funds.
"We need a very close partnership with industry stakeholders, with companies in the Romanian energy system, with MPs, many of them with a lot of experience and expertise, to navigate this energy transition together with as few social costs as possible, ensuring energy prices that are as fair and competitive as possible for industry and the population, and ensuring supply and energy security (...) The Ministry of Energy is very actively involved in implementing investment projects funded by European funds. We have investments in the National Recovery and Resilience Plan, which must be completed by the middle of next year, including in renewable energy, hydrogen production and the battery component. We have the Modernization Fund, over ten billion euros available for renewables. There have been two sessions for contracts for difference that have been successful and have ensured very competitive prices, both for solar and wind production. We have managed, with all the reservations of the European Commission and mainly DG Clima, to co-finance part of the Transgaz projects, which are extremely important for ensuring energy security, to connect with the Neptune Deep project in the Black Sea, to close the BRUA Corridor, to make the necessary interconnections with the Republic of Moldova, primarily, but also with other neighboring countries," Busoi said.
The energy transition, the risk of blackouts and the investment needs in the sector are among the topics discussed at the 14th edition of the Energy Forum conference called "Romania, from energy independence to blackout" which was organized on Tuesday by the DC Media Group.
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