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Thursday, 01 June 2017 19:15

AGRI project could be on the PCI list of EC, Deputy Minister of Energy of Romania Featured

Caspian Energy (CE): Could you please tell about your impressions of the Caspian Oil and Gas 2017 Exhibition and Conference?

Deputy Minister of Energy of Romania, Iulian-Robert Tudorache: It was a great pleasure for me to be present on this important event which was a new opportunity for us to increase the international dialogue on the energy security, for harmonizing the efforts we are making together in order to develop the energy sector in our countries  and for multilateral discussions on areas of common energy interest and collaboration. Therefore I want to congratulate the organizers of the 24 th  Caspian International Oil and Gas Exhibition and Conference, an edition of a real success, proved by the significant number of participants and the very fruitfully contacts on the possible future cooperation.

 

CE: This year Romania’s gas exports have increased 300%. What is the reason for such a sharp increase? How does Romania plan to meet its growing gas demand in the future?

Iulian-Robert Tudorache: Romania is the only significant gas producer of hydrocarbons in the Southern Europe. Despite the natural decline of resources, the annual production of gas was 10,8 b.c.m and 11 b.c.m in 2016. That means that the domestic consumption was covered more than 95%.It is true that in 2016 the import have seen an increase, but this was a result of declining oil prices. This fact had as consequence a price of gas import more attractive compare to the gas from the domestic production in Romania. The Government of Romania attached great importance to encourage investment in order to find new hydrocarbons reserves and increase the replacement rate, diversification of gas supply sources, completion the interconnection with the neighboring countries, the development of the BRUA project which is an important part of the Vertical Corridor and will assure the access to the gas volumes that will be transported by the infrastructure offered by the Southern Gas Corridor. Significantly important are the exploitation of the onshore and offshore natural gas exploitation projects designed to increase the energy security over the coming decades. I can give you a very good example: the Caragele natural gas reserve which is the most important onshore gas discovery in Romania after 1989, estimated reserves being between 25 and 30 bcm. Its exploitation would secure Romania′s energy independence for two-three years.

CE: Considering the growing export flows in the EU, how possible is it to revive the Nabucco project? What does the Romania’s Vertical Gas Corridor (VGC) project envisage?

Iulian-Robert Tudorache: For the integration into the regional gas market the most important project for Romania is the “Development on the territory of Romania of the national transmission gas system on the Corridor of Bulgaria-Romania-Hungary-Austria”, included on the EU′s list of Projects of Common Interest. BRUA is an important segment of the Vertical Corridor which aims to connect the national gas transmission systems of Bulgaria, Romania, Hungary and Austria. The project has been developed to ensure the diversification of natural gas sources in order to strengthen energy security for Romania, for Southeastern and Central Europe.

 

CE: Could you please tell about prospects for development of cooperation in the oil and gas sector in the framework of the AGRI interconnector project supported by Romania and Azerbaijan?

Iulian-Robert Tudorache: AGRI project is a unique initiative in the Black Sea region and covers both the energy security component, the diversification of energy routes and sources and the regional cooperation. The Feasibility Study was finalized with favorable conclusions and now we hope that the project will be included on the third List of the PCI, where AGRI is a candidate. Azerbaijan is one of the most important partner of Romania in the oil and gas sector and we hope that our partners from Azerbaijan will continue to support this project. Accepting the AGRI project on the PCI list of EC would be an acknowledgment by the European Union gas market of this new gas import Corridor from Azerbaijan over the Black Sea and no doubt a strong argument for the shareholders to take the decision to move to the next development phase of the project.

 

CE: What do you think about the Southern Gas Corridor project? What benefits do you see for Romania in the framework of the SGC’s implementation?

Iulian-Robert Tudorache: Southern Gas Corridor project represent a significant way to access the natural gas sources and routes not only for Romania, but also for Europe. By using the existing infrastructure by implementing the new gas projects will be assure the regional interconnection and also inter-regional gas interconnection. These new gas volumes that will be transported through the Southern Gas Corridor will lead to an increasing competition and will have as result more attractive prices for consumers.   

 

 

 

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