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Energy & Environment

Nord Stream 2 financing model to be ready by year end - OMV

Thursday, July 6, 2017

* "We must do it this year, and next year construction should begin," CEO of Austrian OMV Rainer Seele told TASS Companies, participating in construction of the Nord Stream 2 gas pipeline will decide on the financing model before the year ends, CEO of Austrian OMV Rainer Seele told TASS on Friday. "We must do it this year, and next year construction should begin," he said. "We are in the phase of agreeing with the ...

PM Tudose: We want to transform Romania in an energy hub in the Balkans

Thursday, July 6, 2017

The authorities want to transform Romania in an energy hub in the Balkans with the help of Transgaz and Transelectrica companies, announced, on Thursday, when taking office, the new Prime Minister, Mihai Tudose."We already established for the next week a meeting with the Defence Minister in order to come to an agreement on the situations of the Romanian Army and the production capacity of the Romanian defence industry. In the shortest time we will present an ...

Southern Gas Corridor’s dubious contribution to energy security

Thursday, July 6, 2017

Advertised by the EU as the silver bullet that will free Europe from its dependency on Russian gas, the Southern Gas Corridor (SGC) is highly unlikely to ensure energy security and might in fact end up channelling Russian gas, warns Xavier Sol for EurActiv.com.(Xavier Sol is director of Counter Balance.) While proudly presenting the “Second report on the State of the Energy Union” earlier this ...

Mihnea Constantinescu: Romania is a black hole full of resources of gas: we have to invest billions of euro in networks

Thursday, June 29, 2017

The gas networks of Romania were made for pressure two times lower than the countries around, so that investments of billions of euros are necessary to modify the system, money which will reflect in the bills of end users, stated on Thursday Mihnea Constantinescu, ambassador  for energy issues in a conference about the domain under discussion. ‘We  don’t have to forget  about the situation inherited in the Romanian gas ...

ANRE approved the development plan for the system of gas transport for the period 2016 - 2025

Thursday, June 29, 2017

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The National Authority for Regulation in the domain of Energy (ANRE) announced on Friday that they approved the plan for the development of the national system of transport for natural gas for the period 2016 – 2025 and the approval order regarding the trading framework on the centralised market of natural gas managed by the Operator of the  Electricity and natural gas  market. (OPCOM). Moreover, ANRE notified the order regarding the ...

Net coal output January-April, 2017 was 1.461 million tonnes of oil equivalent

Thursday, June 29, 2017

Romania's net coal output January-April, 2017 totalled 1.461 million tonnes of oil equivalent (toe), up 6.8 percent (93,500 toe) y-o-y, according to data with the National Statistics Institute (INS). Over the same period, Romania imported 116,700 toe coal, down 47,500 toe (28.9 percent) from the same period of the year before. Under Romania's Energy Strategy posted on the website of the Energy Ministry, Romania is said to have total reserves ...

General Electric to supply core technology for Romania's Romgaz new plant

Thursday, June 29, 2017

US-based multinational conglomerate corporation General Electric (GE) said on Tuesday it has been awarded an order from the consortium Duro Felguera - Romelectro for core technology in the Iernut power plant operated by Romanian natural gas producer Romgaz [BSE: SNG], seenews.com informs. With a planned installed generation capacity of 430 megawatts (MW), the Iernut project in Mures county, in central Romania, will be Southeast Europe’s ...

Over 32 million tons of crude transferred by KMG International through Black Sea Marine Terminal in 10 years of activity

Thursday, June 29, 2017

The volume of the unloaded crude by KMG International through the offshore terminal out in the Black Sea, reached over 32 million tons in the present, since 2009, when the offshore terminal was put into operation, the company informs în a presselese sent to ACTMedia. The construction works of the offshore terminal, located at 8.9 km in the  Black Sea waters started in 2007, the total ivestment reached over USD 100 milion. “In 10 ...

Household electricity price will rise by as much as 8 pct beginning July 1

Thursday, June 29, 2017

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The household electricity price will rise by as much as 8 pct beginning July 1, according to the Thursday decision of the Regulatory Board of the National Energy Regulatory Agency (ANRE), institution representatives said.Beginning July 1, the final energy price for households will be made of an ANRE-regulated fee that accounts for 10 percent of the total price, and a component that reflects the price on the free market (90 percent). ANRE president ...

Romania's Hidroelectrica 5-mo gross profit grows 26%

Thursday, June 29, 2017

Romanian hydropower producer Hidroelectrica said on Friday that its gross profit jumped by an annual 26% to 744 million lei ($182 million/163 million euro) in the first five months of the year. Production during January-May was approximately 6.5 TWh, down from 7 TWh achieved in the same period of 2016, Hidroelectrica said in a press release. The company posted a turnover of 1.436 billion lei in the five months through May, up 11% on the year. ...

ROPECA: Over-taxation applied to the Romanian gas producers is a huge discrimination against Gazprom

Thursday, June 29, 2017

The over-taxation applied to the Romanian gas producers for the profit obtained from the liberalization of the market represents a huge discrimination against the Russians from Gazprom, who are not obliged to pay these taxes or to sell on the stock exchange the entire amount of gas, Harald Kraft, the president of the Romanian Petroleum Exploration and Production Companies Association (ROPEPCA), said on Tuesday. "The over-taxation was introduced in 2013 as a ...

Negotiations with the Chinese side for Cernavoda Reactors 3 and 4 will be resumed as soon as a new government is installed

Thursday, June 29, 2017

Negotiations with representatives of China General Nuclear Power Corporation (CGN) will be resumed after the new government is installed, at least that's what we want, Secretary of State with the Ministry of Energy and Chairman of the Nuclearelectrica Board of Directors Robert Iulian Tudorache told a specialist debate on ...

Corina Popescu: Romania must include the energy storage into legislation

Thursday, June 29, 2017

The Energy Law will have to be amended to include new provisions regarding energy storage, says Corina Popescu, CEO, Transelectrica quoted by energynomics.ro. Until now, Transelectrica has been involved in two projects – pilot storage, but their capacity is very small. “It cannot be said that Romania has a storage program. First, the law on electricity should be amended, as such projects are not under the ...

EY Romania: The Romanian energy sector enters on the map of big investments funds in infrastructure

Thursday, June 22, 2017

Mergers and acquisitions (M&A) demand from energy and utilities reached the peak since the last seven years, as 59 percent of the executives from energy and utilities at global level expect to make an acquisition in the next 12 months, a growth by 12 percent in demand compared with the former report, according to the bi-annual report EY Power & Utilities Capital Confidence Barometer, business-review.eu informs. „The acquisition of ...

Florina Sora (NAMR): The development of offshore resources is a priority for the NAMR

Thursday, June 22, 2017

The law under which oil concessions were granted is not specific to the offshore field, so improvements need to be made, said Florina Sora, senior advisor at the National Agency for Mineral Resources (ANRM), at the Energy Strategy Summit 2017, quoted by Agerpres. “We have a law that has proven viable and, based on it, oil concessions were granted, but this law does not address ...

E-Distributie Muntenia invests almost EUR 1.1 mln in grid upgrade in Giurgiu

Thursday, June 22, 2017

E-Distributie Muntenia invests almost EUR 1.1 million to upgrade the electricity distribution network in Giurgiu, business-review.eu informs. “Through the modernization of the networks, we succeed to automatize and simplify the company’s operations, while the final consumers will feel the considerable diminish of interventions’ discomfort, as well as a significantly more reduced length of breakdowns,” said Federico Panone, ...

OMV Petrom invested EUR 13 bn in the past decade

Thursday, June 22, 2017

OMV Petrom, the largest oil and gas producer in Southeastern Europe, has invested EUR 13 billion in the last 10 years, romaniajournal.ro reads. “In our field, if you don’t invest, you can’t actually survive. The essence of our investment is that we do it on commercial principles. (…) It is true, if some taxes would have left more money, we could have invested even more because we have the capacity to develop strategies that are ...

Romania imported 2.307 million toe of crude oil în Q1 of 2017

Thursday, June 22, 2017

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In Q1 2017 Romania imported 2.307 million toe of crude oil, by 115.400 toe (4.8 pct) lower than Q1 2016, according to data centralized by the National Institute of Statistics (INS). The crude oil production totaled 1,141 million toe, by 5 pct (60,100 toe) ...

Proper Energy Union governance is essential to delivering the EU’s Paris Agreement promises

Thursday, June 22, 2017

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Transparency and long-term planning are the only ways to reduce the cost of the transition and align climate and energy policies, argues Quentin Genard of E3G. The EU’s Governance Regulation can do that, EurActiv.com reads.( Quentin Genard is a policy advisor at E3G, an independent climate change think tank.) Donald Trump’s decision ...

B. Klauser : One trading place for gas producers in Romania will have a very detrimental effect on market functioning

Thursday, June 22, 2017

Before we talk about regional cooperation in terms of security of supply or even gas hubs, “it’s important to get our own house in order”, said Benedikt Klauser, DG Energy (European Commission) at 2017 Energy Strategy ...

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