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Eximbank US could finance investments in energy in Romania, including gas extraction in the Black Sea


Eximbank US could finance investments projects in energy in Romania, including as regards gas extraction in the Black Sea, a press release of the ministry of economy, energy and business environment says.

Minister Virgil Popescu had a working meeting with a delegation of Eximbank US, led by the chairman of the bank, Kimberly Reed. The meeting was also attended by the US ambassador to Bucharest, Adrian Zuckerman and the general manager of Romgaz, Adrian Constantin Volintiru.

This meeting comes as a continuation of the visit the minister of economy, energy and business environment had in the US, in October, when the Romanian government and the US one signed an inter-governmental agreement regarding the development of reactor3 and 4 and the re-technologisation of reactor 1 as well as the signing of the Agreement memorandum with Eximbank regarding the development of projects in the domain of energy and road infrastructure, the press release says.

During the visit of today the discussions focused on the support that Romania could receive to start extracting gas in the Black Sea. Romgaz has started negotiations to take over the Exxon package ( American company – o.n.) and,once the investments in the Black Sea are unlocked, Romania has the chance to become the biggest producer of gas and energy in Europe. The Romgaz chairman, Adrian Volintiru, spoke about the Romgaz intention to build a methanol factory. For this plan, Romgaz needs either an investor for the construction of the factory or a partner to invest in the methanol production’ according to the ministry of energy.

The US ambassador, Adrian Zuckerman mentioned the importance of ensuring energy independence for Romania and added that the visit of the Eximbank US chairman, Kimberly Reed shows the US commitment towards our country.

In her turn, Kimberly Reed spoke about the Exim US intention to support strategic investments in Romania and ensure financing lines of approximately seven billion dollars. The Eximbank chairman said that the foundation for the development of projects in the energy domain were placed through the Agreement Memorandum with Exim US, signed in Washington.

‘We have some history together and we want to be of help, in the months to come’ she said.

She also mentioned the fact that Eximbank US is prepared to offer financing  to other projects, but the Romanian party needs to apply, and if these projects meet the required standards, collaboration or agreement between the parties is signed, similar to the one signed in October with minister Virgil Popescu for Cernavoda.