Romania is set to play an important role in energy transition due to Black Sea gas resources.
“In terms of energy transition, we need three things: security of supply, affordability, and sustainability.
Romania will play an important role in the region considering the gas resources in the Black Sea,” said Franck Neel, Member of OMV Petrom Executive Board
“When you look at the power sector, of course renewables are an important part of the energy transition, but the main challenge in Romania and in the region is the switch from coal to gas.’ Romania already produces 8.5bn cubic metres of gas per year – second only to the Netherlands in the EU, but still far behind Russia’s 702bn cubic metres. Imports of Russian energy to the EU have nevertheless fallen from around half to about 12% of the EU’s energy imports since the 2022 invasion of Ukraine.
Neel also cited the EU’s Green incentives as a reason to look to Romania in the future.
“The gas produced in Romania is very low carbon in terms of carbon footprint,” he said, speaking at an Energy CEO Forum organised by The Diplomat-Bucharest.
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