Romania ‘has the obligation to exploit shale gas and oil’, says president

Newsroom 28/06/2013 | 14:07

As the Nabucco West pipeline project lost the race for Azeri gas to TAP (Trans Adriatic Pipeline), Romania’s President Traian Basescu says the country has to reform its energy policy and start drilling for offshore oil and shale gas.

Romania was part of the Nabucco West consortium that aimed to transport Azeri gas from the Shah Deniz field to Austria. However, the BP-led Shah Deniz consortium selected the shorter rival project TAP.

President Basescu said Romania would have benefited if the Nabucco West project was selected, adding that he doesn’t believe TAP is advantageous for both sides.

“Romania has the obligation to accelerate the evaluation processes and start exploiting the shale gas and the oil reserves already confirmed in the Black Sea,” said the president after a meeting of the European Council, quoted by news portal hotnews.ro.

The president reckons that if Romania “responds” to the current offers, it can start exploiting offshore hydrocarbon resources and shale gas in the next four years.

Romania has permitted US-based Chevron to start exploring shale gas in four concessions, which can take as long as five years, according to media reports.

PM Ponta, who initially opposed any shale developments, changed his tone, when he got the top government job. He explains that shale gas could reduce Romania’s reliance on Russian gas imports.

A recent report said Romania has enough shale gas to cover its consumption for the next century.

Ovidiu Posirca

 

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