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ANRE : the production of gas in the Black Sea must start in two to three years, otherwise it will be too late

The production of gas from the Black Sea must start in 2-3 years, otherwise it will be too late and there we will not be able to extract these resources,stated on Monday Zoltan Nagy-Bege, vice-chairman of the National Association for the Regulation in Energy (ANRE).

He took part in the online conference on the issue of energy transition, organised by the Council of Foreign Investors (FIC).

‘We cannot afford the luxury to postpone the investments in  the exploitation of gas in the Black Sea,the impact on the economy would be huge.Our prediction is if we do not start the exploitation in two, maximum three years, there will be no gas production on the Romanian side of the Black Sea’  the ANRE official said.

This will happe due to the fact that the European legislation is changing very quickly, he said.

‘The market is changing even more quickly, and we must react as quickly as this.Otherwise, our efforts will be useless’Nagy-Bege said.

In his turn, Christina Verchere, CEO of OMV Petrom, present at the same conference, said that 2021 is an essential year for the production of gas in the Black Sea.

‘Romania is a  country with old tradition in energy resources and has to play an essential role in the energy transition and natural gas has a special importance. Similarly, I think it is necessary to have a favourable context. Time is not on our side, and we were left behind. So, 2021 is a crucial year’ Verchere  who is also the vice-chairman of FIC, said.

She showed that Romania depends more and more on imports, without  the gas in the Black Sea.

‘It is about energy security. Imports will grow up to 40% until 2030.Time is essential. We can bring gas, but we will pay taxes to other countries, employees in other countries. Investments in the Black Sea bring huge benefits to the country: workplaces, multiple effects’ the representative of the oil company said.

‘2021 is a crucial year. We have to see the legal framework to develop these projects, as well as the fiscal regime’ the OMV head said.