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Energy & Environment
Analysis of the policy of increasing the degree of connectivity to natural gas resources for the residential sector
Thursday, November 12, 2020
Transforming Europe into the first climate-neutral continent by 2050 is the biggest challenge of our time. The “Green Deal” recently presented by the European Commission is the most ambitious package of measures that will make the transition to a green and sustainable economy and calls on Member States to rethink energy system strategies quickly. The status of ...
State aid: Commission approves €150 million Romanian scheme to support investments in district heating systems based on renewable energy sources
Thursday, November 12, 2020
The European Commission has approved, under EU State Aid rules, a Romanian scheme to support the construction and/or upgrade of district heating systems, based exclusively on Renewable Energy Sources (“RES”) in Romania. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “This €150 ...
Europe ready to restart transatlantic climate dialogue after Trump ‘parenthesis’
Thursday, November 12, 2020
The European Commission and senior EU lawmakers said they stood ready to intensify dialogue with the US on climate change, listing car CO2 limits and green finance among areas where “real transatlantic cooperation” is again possible after the four-year “Trump parenthesis”, euractiv.com reads. Commission president Ursula von der Leyen issued a statement on Saturday evening to ...
EC: the gas production of the EU, 19% lower than in Q1; Romania extracted 10% less
Thursday, November 5, 2020
The gas production of the European Union dropped by 19% in Q1 of this year, and the extracted quantity in Romania, the second large producer, diminished by 10% according to a report of the General Direction for Energy in the European Commission.Thus, the total production of the EU got to 30.5 billion cubic metres, against 37.7 billion cubic metres at half year last year.The Netherlands, the biggest gas producer in the community space, extracted 14 ...
OMV Petrom falls into red in Q3 on low oil and gas prices
Thursday, November 5, 2020
OMV Petrom (SNP), the largest energy company in Romania, recorded a net loss of RON 41 million (EUR 8.5 mln) in the third quarter (Q3) of 2020 as the sales declined by one-quarter year-on-year, according to the quarterly results released on October 28. In Q2, the group's net profit had narrowed four-fold to RON 214 mln (EUR 44 mln) yet remaining in the positive area, as its sales compressed by one ...
Romanian state planning to acquire through Romgaz 50 pct stake in Neptun Deep offshore gas project
Thursday, November 5, 2020
The Romanian state intends to acquire through the National Natural Gas Corporation Romgaz the 50 percent stake in the Neptun Deep gas block currently held by ExxonMobil, Minister of Economy, Energy and Business Environment Virgil Popescu said on Friday.In an earlier online broadcast by media platform EM360 Popescu had said that Poland's state-owned oil company PGNiG had given up plans to take over a part of the Neptun Deep deposit, ...
Alive Capital to raise EUR 2 mln with bond issue
Thursday, November 5, 2020
Alive Capital, a Romanian company providing integrated services in the energy sector, also operating as a supplier and trader on the energy market, will issue RON 10 million (EUR 2 mln) of bonds on the Bucharest Stock Exchange ...
MFP analyses projects worth more than 1 billion lei to develop smart gas distribution networks
Thursday, November 5, 2020
A number of 24 projects meant for the development of intelligent natural gas distribution networks, worth 1.16 billion lei, have been submitted and are currently being analyzed for funding under the Operational Programme for Large Infrastructure (POIM), the Ministry of European Funds (MFE) announced on Monday evening.According to a press release, MFE is financing, through POIM, projects for the development of smart gas distribution networks. So far, 24 projects ...
Final energy consumption increases by 1.1 pct in 2019, over previous year
Thursday, November 5, 2020
The final energy consumption in the year 2019 has increased by 264,000 tons oil equivalent (toe), an increase of 1.1 pct over 2018, according to data published on Monday by the National Institute for Statistics (INS).The final energy consumption in industry (including construction) recorded an increase of 0.6 pct over the previous year, mainly due to the increase in consumption in the industry of chemical and pharmaceutical products, rubber and plastic products ...
Participation of DESFA in the Alexandroupolis LNG Terminal
Thursday, November 5, 2020
The Greek company Gastrade SA announces the signing of the agreement for the acquisition of 20% of its share capital by DESFA S.A., owner and operator of the National Natural Gas Transmission System of Greece. The agreement was signed in Athens by the Founding Shareholder & Chairman of the Board of Directors of Gastrade, Mrs. Elmina Kopelouzou and the CEO of DESFA, Mr. Nicola Battilana in the presence of the Minister of ...
BRM launches derivative contracts on natural gas
Thursday, November 5, 2020
Romanian Commodities Exchange (BRM) announces the launch for the first time in Romania, on November 16, 2020, of derivative contracts having as supporting asset natural gas. The announced event continues the effort of recent years of the BRM and Romanian producers and suppliers to build together a strong, modern and efficient natural gas market, able to finally offer the country the position and status ...
Global investor group urges United States to rejoin Paris climate accord
Thursday, November 5, 2020
A group representing European and US investors with a collective $30 trillion in assets urged the United States to quickly rejoin a global accord to tackle climate change on Wednesday, as a decision by President Donald Trump to leave the pact came into effect, ...
France will be involved, together with the USA and Canada, in the construction of the Cernavoda reactors
Thursday, October 29, 2020
Romania and France have signed a declaration of intent on cooperation in the civil nuclear field, which aims, among other things, to collaborate in carrying out the construction project of Reactor 3 and 4 at Cernavoda and capital repair, modernization, renovation of Reactor 1, in a broader framework, with strategic partners. “Today Nuclearelectrica signed an agreement with Orano, within the ...
Transelectrica checked the stage of the overhead power line 400 kV Oradea –Bekescsabaek project
Thursday, October 29, 2020
The leadership of the national energy transporter Transelectrica checked the stage of works for the finalisation of the zone of Overhead Power Line of 00 kV Oradea Sud 0 Nadab, part of LEA 400 kV Oradea – Bekescsaba, investment resumed this year after more than 12 years of blockage. The operation of this power line has an important role in securing supply with electricity in the North-West part of the country, say the representatives of the ...
Transgaz has completed the modernization of the Silistea compression station
Thursday, October 29, 2020
Transgaz has completed the upgrading works on the natural gas compression station in Silistea, following an investment of 74 million euros, according to a company's release sent on Friday.The project was also necessary in the context of taking over in the Romanian natural gas transport system of the deposits discovered in the Black Sea, for their capitalization on the Romanian market and on the regional markets, show the Transgaz ...
Romania - cheapest fuel market in EU, after Bulgaria
Thursday, October 29, 2020
Romania has the second lowest price for petrol and diesel fuel in the European Union, after Bulgaria, according to the latest data from Oil Bulletin, a publication of the European Commission.Thus, starting with October 19, petrol costs in Romania 0.934 euros per liter on average, while the European average is 1.265 euros per liter.Bulgaria has the lowest price for petrol, respectively 0.897 euros per liter, while the most expensive petrol is ...
Energy prices for companies without supplier to be tied to stock quotes
Thursday, October 29, 2020
Under a recent order of the National Energy Regulatory Authority (ANRE) on the designation of suppliers of last resort, energy prices for non-household consumers without a supplier will take into account the Day-Ahead Market (DAM) quotations on the of the OPCOM energy exchange.The status of supplier of last resort (FUI) entitles the respective electricity supplier, for any network area, to provide universal service to domestic and non-household customers ...
ANRE : EUR 1.36 mln fines on 11 energy suppliers in Romania
Thursday, October 29, 2020
Energy market regulator ANRE issued fines totaling RON 6.6 million (EUR 1.36 mln) for 11 energy (natural gas and electricity) suppliers and producers. ANRE has thus sanctioned the companies’ behavior in the wholesale market. The investigation on the wholesale energy market was initiated in 2018 and covered 33 companies. ANRE has completed its investigation for 17 of the targeted companies, of which ...
MACQUARIE INFRASTRUCTURE AND REAL ASSETS AGREES TO ACQUIRE CEZ GROUP ASSETS IN ROMANIA
Thursday, October 29, 2020
Macquarie Infrastructure and Real Assets (“MIRA”) today announced that a consortium led by Macquarie European Infrastructure Fund 6 (“MEIF6”) has reached an agreement to acquire a portfolio of Romanian power assets owned by ?EZ Group. The integrated energy infrastructure portfolio is comprised of an 86,665 kilometre regulated electricity distribution network and an electricity ...
EconMin Popescu: Transformation of Energy System must be done on clean technologies
Thursday, October 22, 2020
Romania needs investments to transform the Energy System, which must be done on clean technologies, based on competitive mechanisms, Minister of Economy, Energy and Business Milieu Virgil Popescu told the event Romanian Energy Day Conference, organized by the Romanian Energy Center."Romania needs investments to transform the Energy System. (...) Romania and the US have signed an intergovernmental cooperation agreement that will contribute to the ...