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Energy & Environment
Vosganian: Romania might become a biofuel raw material supplier
Thursday, May 17, 2007
The Romanian Economy and Finance Ministry received proposals from other states to export to them raw material that might be used for the production of biofuels, Minister Varujan Vosganian announced on Monday.'During meetings I had with the economy ministers from other EU member states, I received proposals for the export of raw material that should be used in the production of fossil fuels and I think Romania can become an important supplier in this sector', he ...
Vosganian: Part of Termoelectrica may go to Hidroelectrica
Thursday, May 17, 2007
Romania's power strategy the Ministry of Economy and Finances (MEF) finalized on Monday, includes projects that could transfer part of Termoelectrica to Hidroelectrica in order to streamline the activity of the energy producer based on fossil fuel, Minister Varujan Vosganian told the forum on renewable energy, on Monday.'Thermal power plants like Mintia and Paroseni could be managed by Hidroelectrica and through selling energy to this company it could remove VAT and set up the ...
Procedures on tender to build Cernavoda's Reactors 3 and 4 to be ended in autumn
Thursday, May 17, 2007
The tender to build Reactors 3 and 4 of the Cernavoda Nuclear Power Plant (southeastern Romania) is to be resumed as soon as the Executive ends the debate on the Governmental Resolution on this issue, Minister of Economy and Finance Varujan Vosganian said on Monday.'I have signed the governmental resolution that is currently waiting to be debated in the Executive, with the tender to take place after the debate ends and the construction works at the two reactors to be resumed,' ...
Debts in the energy system must be cancelled, says Minister of Economy
Thursday, May 17, 2007
The debt cancellation in the national energy system must be done, as these debts are the result of the actions of all political parties that governed until 2000 and all Romanians benefited from it, said on Monday the Minister of Economy and Finance Varujan Vosganian during a seminar on environmental issues.'All Romanians benefited until 2000 from preferential prices for electricity, which means that the energy was sold below the production costs, which generated the current debts ...
Drought may lead to energy price rise
Thursday, May 17, 2007
Hot days forecast for 2007 and the lack of rain may lead to an increase in the electricity prices as well as to problems in Romania's trade balance, Economy and Finance Minister Varujan Vosganian told an environment seminar, on Monday. 'Any electricity producer which requests a price increase must thoroughly justify the request, because we want to keep the electricity price below the 2007 inflation rate,' Minister Vosganian said. However, Vosganian believes that 2007 will be a ...
Production of renewable energy to be endorsed by market of certificates, not by fiscal means, says Economy Minister Varujan Vosganian
Thursday, May 17, 2007
Producers of renewable energy will be endorsed by the Romanian state through the market of certificates and not through fiscal means, Economy Minister Varujan Vosganian on Monday said. ‘'As regards the renewable energy producers, the state guarantees them the access to the system and Transelectrica will directly get involved in their connection to the network,'' said the economy minister. He added that resources for the production of renewable energy are bigger than the system ...
Investment in renewable resources estimated at 1.8 billion euros over 2006-2015
Thursday, May 17, 2007
The investment needed for the use of renewable resources is estimated at 1.8 billion euros over 2006-2015, according to Romania's Energy Strategy project over 2007-2020 launched to public debate.According to the strategy, the renewable sources will represent 33 percent of the gross domestic consumption of energy in 2010, 35 percent in 2015 and 38 percent in 2020.The national consumption will grow constantly with 3 percent each year over the analyzed period.Following the implementation of ...
Gas production of 8 bn cubic meters and imports of 14,4 bn cubic meters in 2015
Thursday, May 17, 2007
Romania's domestic gas production will stand, in 2015, at 8 billion cubic meters versus 10,4 billion cubic meters estimated for 2007, whereas imports will reach 14,4 billion cubic meters, up 5,6 billion cubic meters versus 2007, according to the draft Romania's 2007 - 2020 energy strategy, launched for public debate.The gas production will decrease in the coming years from 10,1 billion cubic meters in 2008 to 9,8 billion cubic meters in 2009, 9,5 billion cubic meters in 2010, 9,2 ...
Hidroelectrica, Nuclearelectrica to provide cheap energy for irrigation
Thursday, May 17, 2007
Hydro-power grid Hidroelectrica and nuclear power producer Nuclearelectrica will negotiate with the farmers' associations the supply of electricity at a lower price than the market one for at least three months a year, Agriculture Minister Decebal Traian Remes announced on Wednesday.He said the economy and finances minister told him during the Government's meeting that he had contacted the two national companies and they would negotiate with the beneficiaries a lower price for the ...
Investments worth one billion euros in 121 environment projects
Thursday, May 17, 2007
Romania's Government approved on Wednesday a decision that stipulates technical-economic indicators for 121 investment projects in environmental infrastructure, worth over one billion euros, the Government informs. The approval of the indicators precedes the establishment of financing sources and implicitly the period of unfolding of investments, which prompt the economic impact and the impact on the business environment. For the partial financing of these works the procedure for ...
Romanian oil producer Petrom sees first quarter net profit halved against 2006 results
Thursday, May 17, 2007
Petrom, the largest oil and gas producer in south-eastern Europe and majority owned by OMV of Austria, posted 2.3 times smaller net profit in the first quarter on the same period last year on a decrease in business following the temporary closure of one if its refineries, the company said.Petrom's net profit stood at 381.2 milion lei (113 million euros) in the first quarter of the year, 2.3 times smaller than in 2006 when it reached 880 million lei on revenues of 2.75 billion lei.This year ...
MEF finalised the draft energy strategy of Romania
Thursday, May 17, 2007
The Minister of finances and economy, MEF finalised, on Monday the draft energy strategy of Romania, to be under discussion by the government at mid-June, after preliminary discussions with the employers, trade unions and the academia. MEF wants to keep under state control some of the most important electrical energy production units,thus considering that the security of the national energy grid could be secure, according to NewsIn. Among the units to be under state control are reactor 1 and ...
MOL sells less fuel in Romania
Thursday, May 17, 2007
MOL Romania fuel distributor, subsidiary of Magyar Olay es Gazipari (MOL) registered for the first quarter a decrease of 4% in fuel sales on the Romanian market, as compared to the similar period of 2006, the Hungary group informs. The increase with 11.4% of diesel sales did not compensate the gasoline and GPL segments, the MOL press release informs, without mentioning the value of sales. The quota detained on the Romanian retail market dropped by 0.5 percentage points during the period ...
Diversifying energy sources essential for region, leaders say
Thursday, May 17, 2007
Ensuring enough energy to meet growing demand is a major problem affecting the Balkans, and leaders from the region have agreed on a common strategy to deal with it. Meeting last month in Ohrid, leaders from seven Southeast European (SEE) countries drafted a plan aimed at stabilising the energy situation and ending frequent power shortages, and said around 30 billion euros were needed to put it into effect. The presidents of Albania, Croatia, Macedonia, Montenegro and Serbia attended, as did ...
EU to boost cooperation with Black Sea nations
Thursday, May 17, 2007
The European Union said Monday it would intensify cooperation in energy and other fields with Black Sea nations in a bid to strengthen its position in an energy-rich region that is largely under the sway of Moscow. EU foreign ministers, meeting in Brussels, endorsed plans for closer ties with 13 Black Sea nations that straddle a strategically important region that includes major oil and gas supply routes to Western Europe. They instructed the European Commission, the EU's executive office, ...
Russian gas pipeline to cross Bulgaria
Thursday, May 10, 2007
The Russian gas giant Gazprom intends to built a natural gas pipeline across Bulgaria, so that Russia would be enabled to provide its gas to the Southern and Central Europe. In case the construction project becomes real, Bulgaria gains an important position on the Balkans gas market, says Rumen Ovcharov, the Bulgarian Energy Minister.Bulgaria would earn some 2 billion dollars each year from the gas transit, instead of the current 600 million. The announcement was made the same day the former ...
Israel may import energy from Romania
Thursday, May 10, 2007
The Israeli officials voiced, during a working visit paid to Israel by Economy and Finance Minister Varujan Vosganian, their country's interest in importing electricity from Romania, and the involvement in creating the necessary infrastructure, informs the Economy and Finance Ministry.The discussions also referred to the economic concern of the two states to diversify the supply sources from the Caspian Sea area.Special attention was paid to the development of the Romanian-Israeli ...
Transelectrica signs upgrading contract with Energomontaj ABB
Thursday, May 10, 2007
Transelectrica National Corporation on Tuesday signed a contract worth RON 43.32 million with the Energomontaj-ABB Romania business concern to have the 220110 kV Isalnita sub-station upgraded.The contract will be entirely financed with Transelectrica's own funds.This will be the first investment of the corporation to be fully carried out with funds raised from its flotation on the Bucharest Stock Exchange by public offer.'The upgrading of the primary circuits, coupled with the upgrading of ...
Competition authority examines takeover of Depomures share package by GdF International
Thursday, May 10, 2007
Competition Council examines the economic concentration achieved through the acquisition by Gaz de France International of a share package accounting for 50 percent of the share capital of SC Depomures SA Targu Mures, the competition authority announced in a press release.Gaz de France is acquiring this share package from Azomures SA Targu Mures Chemical Combine.Gaz de France International is part of Gaz de France Group and is present in Romania through its commercial companies Distrigaz Sud ...
Petrom to buy Shell Gas Romania SA and Trans Gas Services SRL
Thursday, May 10, 2007
Petrom, the largest oil and gas producer in South Eastern Europe, has decided to exercise its pre-emption right regarding the purchase of a 55.53-percent stake in Shell Gas Romania SA and a 60-percent stake in Trans Gas Services SRL, Petrom reports.According to a press release of the company, Petrom will acquire Shell Gas Romania and Trans Gas Services SRL following the decision of Shell to exit LPG business in Romania, Bulgaria, Czech Republic, Germany, Spain and Switzerland. The ...