ROMANIA-RUSSIA The Russian- Romanian Chamber of Commerce and Industry has launched the project "Romania - a European Energy Hub"

Emilia Olescu (Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 6 aprilie 2012

Reporter: You have launched the project "Romania - a European Energy Node". What does this project consist of?

Mihai Macsim: 5-6 years ago, the Russian- Romanian Chamber of Commerce and Industry (CCIRR), in association with the Institute of National Economy of the Romanian Academy has analyzed and reviewed the chances of developing the economic relations with the Russian Federation. An important component of this relationship is the import of energy carriers. The new regulations of the EU in this area stipulate, among other things, that EU member countries are required to have access to the gas and oil pipelines for exports. A simple analysis of the map of Romania with its positioning on the map of Europe leads to the conclusion that we are on the path of the energy transit from every direction and yet paradoxically they all go around Romania (we all know the reasons for that). Or, the proposals coming from the manufacturers of natural gas from the ex-soviet countries to build avenues of transport towards the EU/Balkans, of cooperation in specific structures such as deposits, the interconnection-dispatch systems, but especially the existence of specialists in this area in Romania have caused us to initiate this project that would answer to the demand. The name of energetic node has been making the rounds for a long time in the debates on this matter - over ten years - and was mentioned in Romania's energy strategy. Mainly, our project proposes the coagulation of our interests in this area in the country and outside it in the implementation of private capital components in Romania, such as avenues of transport for hydrocarbons in transit, entry/exit, the generation of finite energy through thermoelectric plants with fossil fuels, nuclear fuel, generators of electricity using the primary resources existing on the territory of Romania, such as water, wind, sun, the rehabilitation of some Thermoelectrical Plants from the major cities and the industrial platforms, systems for the storage of primary energy, as well as buffer sources for the energy produced using random sources that would allow their connections to the national and European transport and distribution system.

Reporter: What countries and companies are involved in the development of the project?

Mihai Macsim: Economic structures from countries in Asia and South-Eastern Europe, investment funds from Europe and the US, individuals with capital available have expressed interest in this project.

Reporter: What stage is it currently in?

Mihai Macsim: The road from the initial intention to the actual launch of this project is long and hard. Overall, the political and economic environment creates collective and individual reasons to hold back.

Reporter: When will it be launched?

Mihai Macsim: We are optimistic and we see this project begin in the month of May-June this year.

Reporter: What will be the first step?

Mihai Macsim: The first step was made, the one concerning the dissemination of information and the advertising of the project. The lawyers that we cooperate with are drafting the documentation for formalizing the structure which will represent the project and ensure its management in a unified manner.

Reporter: What is the Russian involvement in the performance of this project?

Mihai Macsim: If you are talking about the Russian Federation, we will summon them when we are ready to take this step, together with those interested in Europe, Asia, America.

Reporter: What role does the bilateral Chamber in the process of this project?

Mihai Macsim: First of all, we have been involved since the beginning in its initiation and conception. After the creation of the legal structure, which if we had our way would be in Romania, we hope to become an interface between it and the eastern part of the continent, mostly in the former soviet countries.

Reporter: Where will the financing for the project come from?

Mihai Macsim: Such a project involves heavy financing and implicitly the attraction of banks, investment funds, and private capital.

This step has been made and the chamber is concretely acting towards attracting financing sources from all directions. I once again emphasize that the project fully relies on private financing with a maximum independence from the government structures.

Reporter: Thank you!

"I once again emphasize that the project fully relies on private financing with a maximum independence from the government structures".