29.2 C
June 27, 2022

PM Ciuca: Exploiting natural gas in the Black Sea, an essential objective in seeking independence from Russia

Prime Minister Nicolae Ciuca on Tuesday said that starting to exploit the natural gas in the Black Sea represents an essential objective in the process of obtaining supply independence from Russian gas.

The Prime Minister had a meeting on Tuesday at the Victoria Palace with Eric Faillnet, the head of Carlyle International Energy Partners Group, which is the main shareholder of the Black Sea Oil&Gas.

According to a press release of the government, on this occasion, the Prime Minister welcomed the interest of investors in starting to exploit the natural gas in the Black Sea, through the development of the Midia Project, which will cover, as of this year, ten percent of the necessary production at the national level.

“For Romanians, it is an essential objective to achieve in seeking independence from the Russian gas. The government encourages investments in the energy sector, and our country is among those European states that could manage with the quantity of gas that they have to cover the national consumption. The new offshore law, which we initiated at the Governing Coalition level and will soon be adopted, creates a predictable and stable framework for investors. By ensuring a balance between the state interests and the ones of the private environment, Romania has the chance of even becoming an exporter in the region, as soon as the exploitation projects in the Black Sea are developed,” Nicolae Ciuca was quoted as saying in a press release.

In their turn, the representatives of Black Sea Oil&Gas announced that the Midia project is ready to start in June, after the last tests, with a delivery capacity of one billion cubic metres annually.

Related posts

Debt-to-equity swap law would not hurt if approved as per motivation, says central bank governor

Nine O' Clock

PM Grindeanu: Romania running budget surplus of over 1.64 billion lei in Q1

Nine O' Clock

Matan Safran, Commercial attaché of the Israeli Embassy in Bucharest: I am sure that we can and should do much more to enlarge and diversify our economic ties

Nine O' Clock