Vosganian: „Romania might draw energy investments worth 12 to 15 bln euros over 2009-2012”

Romania might draw some 12 billion euros to 15 billion euros in investments in the energy sector over 2009-2012 in order to build reactors 3 and 4 of Cernavoda Nuclear Power Plant, investments in thermal power plants and in building a hydropower plant at Tarnita-Lapusesti, Economy and Finances Minister Varujan Vosganian said on September 16.
The minister took part in the signing of a non-repayable loan worth more than one million dollars that the U.S. Trade and Development Agency (USTDA) offers Romanian gas company Romgaz for the conduct of a feasibility study on the regional natural gas market.

Vosganian reiterated that the key problem in Romania is infrastructure, meaning that there is need to redefine the concept of critical infrastructure. As such, he stressed there is no rush to privatise the Romanian energy sector, i.e. such companies as Romgaz, Nuclearelectrica and Hidroelectrica, but it is important that these companies be listed on the Stock Exchange. “Romania is playing an increasingly big part in the European Union’s energy security and we do not want to lose control of these companies”, he argued.
The economy minister hailed the signing of the grant agreement, underscoring that the event is an important signal that Romania together with the United States give amid the need for Europe’s re-orientation with respect to the energy sources, taking into account that it currently imports half the demand of hydrocarbons for consumption.
“This project is a sign of the U.S.’ interest for Romania, and Romania’s energy security is a stability factor for the Euro-Atlantic security”, Vosganian stressed.
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