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KazMunayGas head: Memorandum with Rompetrol, important step in boosting Romania-Kazakhstan ties
The adoption of the memorandum between the Romanian State and Oil Group Rompetrol is an important step in boosting the Romania - Kazakhstan relations, said Sauat Mynbayev, the managing director of KazMunayGas, Kazakhstan's national oil and gas company, which is the sole shareholder of the Rompetrol Group.
Sauat Mynbayev met in Bucharest on Monday with Romanian Prime Minister Victor Ponta.
According to a release the company sent on Tuesday, Sauat Mynbayev hailed the decision of the Romanian authorities and the backing given by Prime Minister Ponta throughout the entire process of negotiation, signing and adoption of the memorandum between the Romanian State and Rompetrol Group.
'This new partnership represents a strong signal that confirms our vision, which is to turn Romania into a regional energy hub, a bridge between Kazakhstan's resources and the demand on the European market,' said Mynbayev.
He also said that 'the memorandum renders us and the Kazakh companies more confident that Romania is a trustworthy partner and a close friend, a place where foreign investments are encouraged and welcome.'
The investment fund put in place as a result of the memorandum will respect the interests of both parties - the Romanian state and the Rompetrol Group. The investments will be made for seven years, with their amount totaling up to 1 billion dollars.
Rompetrol has already identified two major projects worth nearly 350 million dollars: the construction of a co-generation plant on the Petromidia platform and expanding the filling station network on the local market, which will generate a positive impact on the communities where they will be implemented, as they are set to create 2,000 jobs throughout their various stages, and on the entire economy as well.
The head of KazMunayGas expressed the company's firm commitment to honour all obligations it has pledged to under the agreement and reiterated the strategic decision to continue developing Rompetrol's operations at the local and regional level, resulting in many positive direct and indirect effects on Romania, the release reads.
'Being a state-owned company, KazMunayGas represents Kazkhstan's national interests in the oil and gas sector and assumes the responsibility to forge strategic partnerships on supplying the hydrocarbons produced at home to the main retail markets. This strategy is aimed primarily at speeding up Rompetrol's activities and operations in the region,' the company reports.
KazMunayGas, via Rompetrol, covers the geographic arch made up of the Caspian Sea region (Kazakhstan, Georgia), the Black Sea (Ukraine, the Republic of Moldova, Romania, Bulgaria), the Mediterranean Sea (France and Spain).
Romania's renewable energy capacity surges 82% in 2013
The production of renewable energy in Romania reached record levels at the end of last year, when the overall capacity of existing projects in the energy system attained 4,255 MW, a 82% increase compared to the end of 2013, according to data of the Romanian Energy Regulatory Authority (ANRE).
Namely, on December 31, 2013, wind energy projects totalling 2,503 MW, photovoltaic projects of 1,155 MW, biomass capacities of 65 MW, and hydro power plants amounting to 530 MW were operational.
Renewable energy producers get subsidies with green certificates, paid by all the consumers including the households, and highlighted separately on the electricity bills.
Romania has committed to reach 24% of renewable energy in its total consumption in 2020, but ANRE has announced that this target has been already reached on January 1, 2014.
To curb the surge of bills, on July 1, 2013 the Government decided to postpone the issue of some green certificates until 2017 - 2020.
Early in January, President Traian Basescu sent back to the Parliament the Law for the approval of the Government Emergency Order 57/2013. This Law included the provision of delaying the issue of green certificates only for the projects commissioned before January 1, 2014, which was not originally stipulated in the Order text.
Therefore, by not signing the Law, the effects of the Order are cumulated with those of the Government Decision of December, and solar power projects now get only one green certificate, the wind power projects only 0.5 certificates, and the micro hydro power plants only 1.3 certificates.