Energy sector needs investments worth EUR 30 bln

Newsroom 19/03/2014 | 16:58

The energy sector will need investments worth EUR 30 billion in the next 15 – 20 years to assure competitiveness and energy independence, according to Gabriel Dumitrascu, head of Privatizations within the Energy Department.

The Government is looking to establish an investment fund based on the state’s minority stakes in energy companies, a fund worth EUR 1 billion.

“The issue has been in discussion for the past year. We’re talking to the Ministry of Public Finances. (…) We need to convince MFP that we need new instruments for financing the economy. (…) MFP wants these stakes to remain under the same administration as until now”, Dumitrasuc added.

The official said that the State’s minority stakes for difference energy companies, including OMV Petrom, are valued at a couple of hundred million euro but if they were conslidated, the total value would be over EUR 1 billion. Dumitrascu doesn’t exclude taking the fund to the stock market.