Romanian energy system, dependance on FDI

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Romania’s energy sector must attract foreign investments for modernization, stressed Monday the Foreign Investors Council.

Foreign investors play an important role and contribute to the stability of this essential sector by placing over 16 billion euros (20.8 billion U.S. dollars) since 2002, the council told a press conference.

In 2012, the Economy Ministry is to sell minority stakes in energy companies on the Bucharest Stock Exchange, said the council, an association of the leading foreign investors in Romania committed to the promotion of constructive dialogue between policy makers and the foreign investors.

Meanwhile, the country also plans to sell 15 percent stakes in the national grid operator Transelectrica, the natural gas transporter Transgaz and the largest natural gas producer Romgaz, as well as 10 percent stakes in leading electricity producer Hidroelectrica and the operator of the country’s sole nuclear power plant Nuclearelectrica.

The Economy Ministry will select new investors for building works at the 3rd and 4th reactors of Cernavoda nuclear power plant and for other conventional power plants.

The Romanian Center of Energy, a professional organization that represents the interests of the country’s energy sector, last month opened its office in Brussels to support and promote investments in the national energy system.

Romania has significant oil and gas reserves, substantial coal deposits and it has substantial hydroelectric power installed. However, Romania imports oil and gas from Russia and other countries. 

Source; daily