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Energy & Environment
Arad-Szeged pipe allows Romgaz to break Russian monopoly
Thursday, September 23, 2010
Romgaz Mediaş will use the possibility of directly connecting to the Western gas market through the newly opened Arad-Szeged pipe to bring gas from the Vienna Stock Exchange.The move represents the first steps Romania is taking to loosen the Russian monopoly as regards imports of gas needed to feed the internal market.As a matter of fact, Romgaz was the first company to test gas imports through Arad-Szeged pipe, with market sources specifying the state-owned producer was the only one ...
MMP's Anton: Greenhouse gas emissions, down 38pct in Romania
Thursday, September 23, 2010
The level of greenhouse gas emissions has dropped 38 percent in Romania against the average level mentioned in the Kyoto Protocol, state secretary with the Romanian Ministry of Environment and Forestry (MMP) Marin Anton told a conference on Friday that launched the third edition of a project called 'Young ambassadors against climate change.''According to the latest inventory on emissions of March 2010, the level of emissions in Romania is 38 percent lower than the average target ...
Gabriel’s Romanian effort moves ahead
Thursday, September 23, 2010
The decade-long effort by Canadian mining company Gabriel Resources Ltd. to open Europe’s biggest gold mine has taken a significant step forward with the news that the Romanian government has reopened the project’s crucial environmental review process.The announcement pushed up Gabriel’s Toronto-listed shares by almost 20 per cent, their biggest gain in almost a year.Gabriel said that the Romanian Technical Analysis Committee, consisting of members of several government ministries, confirmed ...
64% of new power to be renewable over next decade
Thursday, September 23, 2010
Renewable energy is set to make up nearly two-thirds of new electricity generation capacity installed in the EU over the next decade, according to new estimates by the European Commission.The EU executive's update on its energy trends to 2030 report, published without any public announcement, projects that renewable electricity will account for 64% of new electricity generation capacity installed over the next decade up to 2020. Gas will make up 7%, coal 12%, nuclear 4% and oil 3%.The ...
Romgaz investments for 2011
Thursday, September 23, 2010
The Romanian natural gas producer Romgaz has planned for 2011 investments of 1.2 billion lei (282 million euros), both on the internal and external market, most of the money being scheduled to be spent for the deposits exploitation and improvement, Romgaz deputy general manager Francisc Toth told a press conference last week. 'From the investments for 2011 ... most of the money will be directed to exploration and development. We shall make 1.2 billion lei investments on the ...
Romanian Transgaz Medias Head Replaced
Thursday, September 23, 2010
The general manager of Romanian state-owned gas transporter Transgaz Medias (TGN.RO), Florin Muntean, has been replaced with the chief of the national gas dispatcher, Florin Cosma."Muntean was replaced last week," the sources said. Transgaz is controlled by the local Economy Ministry. Muntean took over Transgaz management in October 2009, appointed by then Economy Minister Adriean Videanu. Early-September, Videanu and another five ministers were replaced. Ion Ariton is now the Economy ...
Romanian Power Watchdog Awards CEZ First Permits For Black Sea Wind Farms
Thursday, September 23, 2010
Czech state-owned power company CEZ Monday said it received from Romania’s energy regulatory authority ANRE the first greenhouse gas emission certificates for the energy produced at its wind farms near the Black Sea and delivered to the national electricity network.On September 17, ANRE awarded Tomis Team, one of CEZ's subsidiaries in Romania, the August permits for the production of electricity from renewable power sources, the group said in a statement. CEZ is investing EUR1.1 ...
CEZ To Leave Romanian Cernavoda Nuke Project
Thursday, September 23, 2010
Czech power group CEZ decided to withdraw from the shareholder structure of Romania’s EnergoNuclear to search for less risky business opportunities in the region, an official of CEZ Romania said Tuesday. "CEZ's board has already approved the decision," Adrian Borotea, corporate business manager with CEZ Romania, told MEDIAFAX. Borotea said withdrawal procedures would be completed by December this year.Romania, through state-owned nuclear energy company Nuclearelectrica, controls ...
Romania, Azerbaijan, Georgia and Hungary to hold equal parts in AGRI project
Thursday, September 23, 2010
Romania, Azerbaijan and Georgia each will hold 33 percent of the company about to be set up under the AGRI project (Azerbaijan-Georgia-Romania-Interconnection project to transport LNG from Azerbaijan to the EU through Georgia and Romania), at least until Hungary joins them, following which each party will own 25 percent in the newly established company, according to a release of the Romanian Ministry of Economy, Trade and Business Environment (MECMA). The company to be set up in ...
Romania Economy Ministry: Hungary to join joint company to develop AGRI energy project
Thursday, September 23, 2010
The joint company due to develop the AFRI energy project is to be registered at the Registry of Commerce as a Romanian company in the upcoming period, the Romanian Economy Ministry has announced. The company will be named AGRI LNG Project Company and will run in accordance with Romanian law. The shareholder structure is formed for the time being of three partner companies, each with 33.33%: Romgaz (Romania), SOCAR (Azerbaijan), GOGC (Georgia). The ministry said that considering the interest ...
Finance sector says ready to invest in CCS
Thursday, September 23, 2010
Private sector banks are ready to put money into carbon capture and storage projects (CCS) if they are viable without public funding, according to a new report released on Monday (20 September).Two research organisations, the Climate Group and the Ecofin Research Foundation, have gauged the views of 30 private sector capital providers on CCS.They found that there is money available for CCS projects if they can compete with other forms of energy generation without public funding. Moreover, ...
Asesoft owner among top 20 wind farm developers in Romania
Thursday, September 16, 2010
Businessman Sebastian Ghiţă, who controls Asesoft group operating in IT&C industry, is the co-owner, alongside three other investors, of Corni Eolian, which is developing a 700 MW project in Galaţi county. Ghiţă's investment in Galaţi is among the top 20 biggest wind projects in Romania, for which a contract to join the electrical grid has already been signed, according to data from national power grid company Transelectrica, with the 20 including big energy ...
ButanGas: Our 44m-euro wind farm in Constanţa will become operational in January 2011
Thursday, September 16, 2010
ButanGas Romania, one of the biggest players on the distribution of liquefied petroleum gas (LPG), says early next year a 25 MW wind farm worth 44 million euros will become operational in Constanţa county. ButanGas Romania's Constanţa investment is the company's first concrete step in the renewable energy sector, after it announced its focus on this sector back in 2007 through the group's founder Iosif Constantin Drăgan."Our intention is to become involved in renewable energy ...
Transelectrica connects wind power projects to the grid
Thursday, September 16, 2010
National electricity transmission company Transelectrica (TEL) will invest between 200 and 250 million euros over the next few years in voltage transformation substations and in electrical lines needed to connect wind power projects in Dobrogea (SE Romania), the new El Dorado of energy businesses, to the national grid."These investments will be correlated with investors' plans for wind power stations. Investment estimates for this area range between 200 and 250 million euros. A big ...
Only 80 MW of the 1,500 MW of wind power announced by Iberdrola to become operational in 2011
Thursday, September 16, 2010
Iberdrola energy group, one of the world's biggest players on the market of wind energy projects, will launch an 80 MW wind farm next year in Mihai Viteazu locality of Constanţa county, with this being as a matter of fact the only investment which has its network connection contract signed of the 1,500 MW the Spanish company plans for Romania.Taking into account the farm's capacity, the investment of Mihai Viteazu is likely to get to 120-140m euros.Like many other investors ...
OMV doubles petrol station chain with just 5m euros
Thursday, September 16, 2010
The OMV petrol station chain will double its presence on the Romanian market, going from 77 to 157 stations following a nearly 5 million-euro investment, simply by rebranding PetromV stations. This compares with an investment of up to 2 million euros in a new petrol station.This makes OMV the fourth-largest petrol station brand in Romania in terms of presence, overtaking its direct rival, Hungarian group MOL, with 126 filling stations. Last year OMV Romania posted around 430 million euros in ...
'Minuscule' CO2 savings expected from EU scheme
Thursday, September 16, 2010
The EU's emissions trading scheme (EU ETS) is set to deliver no more than 0.3% carbon savings on total emissions in the current five year trading period, which ends in 2012, according to a new report by climate group Sandbag. The report warned that the EU's flagship instrument for reducing CO2 emissions could turn into a trap that commits the bloc into increasing rather than reducing emissions for most of the coming decade unless swiftly revised.The group's calculations show that ...
Romanian Electricity Transporter Transelectrica “Is Still In Recession”
Thursday, September 16, 2010
The financial results posted by Romanian state-owned electricity transporter Translectrica (TEL.RO) in the first half of the year were influenced, among others, by unpaid debts, and the company is still in “recession”, Thursday said company general manager Adrian Baicusi."At Transelectrica we are still in recession. (...) In the first six months of the year were were in financial deadlock on the energy segment. Legislation kept us from blocking suppliers who fail to pay their debts, we also ...
EU's next energy savings plan to focus on buildings
Thursday, September 16, 2010
Buildings will be at the centre of the EU's new energy savings plan, which the European Commission plans to present by the end of the year, the EU energy commissioner has said. Commissioner Günther Oettinger told journalists after an informal meeting of European energy ministers on Tuesday (7 September) that he would bring out the much delayed new Energy Efficiency Action Plan this year.The review of the plan was originally on the previous Commission's agenda before being deferred ...
Tax Authority seizes several lands and facilities owned by Rompetrol
Thursday, September 16, 2010
The National Tax Management Agency (ANAF) seized several lands and facilities owned by Oil Company Rompetrol, the Refining Branch, as well as the stakes in its branches to recoup some 570 million euros in debts, according to a Rompetrol Group release. 'The Rompetrol Group was surprised by the ANAF decision issued on September 10 to seize several of its lands and facilities, as well as the stakes in its branches,' reads the release. According to the Rompetrol ...