Romania can become energy hub for Central and South-Eastern Europe

Romania can become a hub on the energy market in Central and South-Eastern Europe, due to foreign investments that will be made in the future and also due to the EU membership which will prompt a rising confidence in the Romanian market, representatives of foreign companies who invest in the Romanian energy market told the international forum devoted to energy and held in Bucharest.
”Romania has the chance to become the hub of the energy market in Central and South-Eastern Europe and we will support this development through investments worth some 3 billion euros until 2010,” Petrom’s managing director Mariana Gheorghe said.
The Petrom official said that the sums allocated by the company will focus on curbing the decline of oil and gas production, with investments in this area amounting to 1.5 billion euros in the next four years, as well as on securing energy resources and on retooling, due to attract funds worth one billion euros in the aforementioned period.
”Romania has a significant position in the region in terms of demand and installed capacity alike, and in the future the EU membership will increase Romania’s attractiveness,” said president of ENEL Romania Matteo Codazzi.
Both the ENEL representative and Petrom managing director emphasised the need to increase the share of renewable resources in the total of energy resources. To this end, Petrom’s aims at the renewable sources to account for 5.7 percent of Petrom’s output in 2011. ROMPRES