Romanian Energy Topics for 2015

Romanian Energy Topics for 2015

The major trends of 2015’s world energy were largely set in the second half of 2014. Undoubtedly, the stunning oil price plunge that began in June has been the overwhelming development, causing major economic and political effects on a global scale. Significant consequences have already followed, concerning the patterns of energy consumption and the prospects for technology and infrastructure investments, apart from the economic and geopolitical standing of quite a few oil and gas-producing nations. A driving factor within the energy world is the expectation that a global agreement on binding carbon emission targets will be reached in November, 2015, at the Paris COP21 Conference on climate change. This expectation is driven by goals largely opposed to the current fossil fuel-based global economy. However, energy market trends are affecting the efficacy of climate policies, as the attractiveness of investments in renewable energy sources (RES) and energy efficiency diminishes in a market of cheap and plentiful diesel and gasoline. A few topics will continue to dominate the Romanian energy policy-making landscape. The deregulation of natural gas prices, despite the clear and indisputable nature of Bucharest’s international commitments, will likely continue to be subject to political interference. Indeed, the new leadership within the Energy Department decided to postpone until July the 1st, the first step of the price de-regulation schedule for household consumers – a step that was initially set for October the 1st, 2014. Unsurprisingly, the government plans to capitalise on the coming wave of cheaper gas and low household demand in the summer time. It remains to be seen whether the European Commission – which is yet to validate [...]
Upcoming Event in Romania: ZF Power Summit ’15

Upcoming Event in Romania: ZF Power Summit ’15

The international context and the changes in Romania announce a heated debate. The oil price continues to go down, royalties are still an issue to be addressed; yet spectacular initial public offerings are expected and the energy strategy has to be finalized by a new Ministry. Join us in Bucharest between 23-24 February for ZF Power Summit ‘15, the event that brings together the most select club of energy professionals! Discussion topics: -         Oil barrel price trend and its implications on the local market, including the major Black Sea investment projects -       Energy price trend and strategies of the major generation companies under the current circumstances -       Gas and electricity interconnection projects -       Power consumption trend -       Expansion strategies of oil industry actors -       Directions of Romania’s new energy strategy   ZF Power Summit ’15 Two days. All about Energy For registration: http://evenimente.zf.ro  CEEP is a media [...]
Pawel Olechnowicz: Romania Stands Every Chance of Becoming a Key Pillar of the Europe’s Energy Security

Pawel Olechnowicz: Romania Stands Every Chance of Becoming a Key Pillar of the Europe’s Energy Security

Interview with the CEEP Chairman of the Board of Directors, Pawel Olechnowicz, published by the Romanian business daily newspaper “Bursa”, on the 2nd of February. Reporter (R): What exactly are the sources of gas for the North-South corridor presented as an alternative to the Russian gas? Pawel Olechnowicz (PO): The key benefit of the corridor is the flexibility it gives in the choice of suppliers who may deliver gas. At the moment, most Central European countries have to buy from monopolies. They cannot change their gas, oil or energy suppliers as they lack proper infrastructure. This not only constitutes a supply-security risk, but also increases energy prices in comparison with the Western European market. The main problem is that we all face similar challenges, and have been discussing them for almost a quarter of a century. However, we have been doing this separately, which is not effective for infrastructural development. Look at the highways network – it only makes sense when it is internationally connected, so you can get into your car in Gdańsk and drive easily to Athens or Lisbon. The same is true with energy infrastructure. A pan-European gas market goes together with pan-European gas suppliers. With new supply markets on the horizon, Europe is increasingly installing specialist terminals, which will allow gas to be imported from remote countries in the form of liquefied natural gas. The point is that these terminals need to be part of a broader network. With proper infrastructure, you can deliver gas to any of the continent’s terminals and sell it thousands of kilometres away. I do not see a particular threat on [...]