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February 26, 2021
BUSINESS

Dinu Patriciu: The South Stream project is harmful for Romania

A Nabucco – type project would be preferable in case of Romania as against a South Stream one, as Dinu Patriciu, CEO of The Rompetrol Group, told Realitatea FM.

Dinu Patriciu says that South Stream would be harmful for Romania because it could create a monopoly. “The Atlantic Board is a network without political affiliation and an international entity, consisting of leaders who attempt to attach power to their ideas which they then implement. This is an enhancing factor of the dialogue and for the talks which enrich the international public agenda, promoting consensus on the political answers provided by the administration in USA, by the corporate sector, by the civil society and even by the American media”, Patriciu added.

At the question on the vision of the members of this board in relation to the Black Sea region in relation to the energy sector, the businessman said: “The initiative we envisage starts from the fact that the Black Sea is a very hot area for international, economic and political relations. And not only the Black Sea region but also the Caspian Sea and the Central Asia, as they exert a very strong influence on the global security. The development potential of the regional and trans-regional cooperation is very high here. It is mainly about the energy bridge among the resources of the East and consumption of the West”. “Within the Black Sea, there are two competing projects: Nabucco project, encouraged by the EU, and South Stream, encouraged by Russia through Gazprom. A choice can only be made by stimulating those projects which do not use a single supply source, which do not create monopolies”, Patriciu mentioned. “I do not think that today Romania’s energy independence is only depending on an energy pipe. It is also dependent on exploring its own reserves, on the equilibration of the energy production with the energy from alternative sources”.

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