Strategic natural gas reserve – 1 billion cubic metres

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Romania could set up a strategic natural gas reserve of 1 billion cubic metres that would be used only if needed, Dan Stefanescu, Romgaz Director for Exploration and Production, stated last week.
“The sale of stored natural gas is not easy. It’s particularly complicated. On the other hand, the natural gas left in storage year after year grows in value because the storage component is added to it. But it’s also an advantage in this sense, namely the fact that the gas left in storage year after year, with supplementary input, can represent what we think could form a so-called strategic natural gas reserve, in the ballpark of approximately 1 billion cubic metres, a quantity that would be sufficient in case of disaster, speaking generally,” Dan Stefanescu explained at round table talks on natural gas in Romania and European-level interconnections.
According to him, Romania has strategic petroleum reserves but not strategic natural gas reserves like Hungary has.
“There are talks at government level and at the level of working groups to set up a safety reserve because at this moment the safety reserve is set up by a commercial company that registers losses in this activity. And, according to the legislation, one cannot impose financial losses on any operator,” Energy Regulatory Authority (ANRE) President Niculae Havrilet stated.
He pointed out that Romania, just as the other EU member states, has the obligation to set up such a strategic reserve based on Regulation 994, a reserve that cannot be set up by a company.