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Romania to increase its gas storage capacity to over 4bln cu.m.
Romania is set to increase its natural gas storage capacity to more than 4 billion cubic metres, from a current 3 billion, Energy Minister Virgil Popescu said on Tuesday.
He participated in the commissioning of a natural gas dehydration unit at the Bilciuresti storage facility, Dambovita County, along with Prime Minister Nicolae Ciuca and the management team of Romgaz and Depogaz.
"We want to increase our natural gas storage capacity to over 4 billion cubic metres by 2025. Investments are on the list of priority projects and can be financed with European money. As we set out in the government agenda, storage will increase to secure both the country's energy security and its energy independence," he said.
The unit commissioned on Tuesday, worth 7.6 million euros, contributes to increasing the extraction capacity at the Bilciuresti storage facility, which is the largest natural gas facility in Romania.
According to Depogaz's plans, a new storage facility could be built in Falticeni.
At the same time, the minister gave reassurances that there will be no gas supply problems this winter.
He reiterated that the price of gas had risen due to machinations by the Russian Federation through Gazprom, which increases pressure for the Nord stream 2 gas pipeline to be commissioned as soon as possible.
"We expect prices to fall after the winter, after the commissioning of the pipeline," the official added.
Europe will create its own strategic gas reserves in order to hedge against future gas shortages, European Energy Commissioner Kadri simson said at a press conference on December 3, quoted by Intellinews.com.
simson stated that the EC is working on a package of proposals to regulate the natural gas and hydrogen markets. she also added that, despite the extremely high natural gas prices in 2021, hub-linked gas prices would deliver gas more cheaply to the Continent over time than long-term oil-linked prices.