Romania’s natural gas reserves to run out in 15-20 years

Romania’s proven natural gas reserves will run out in 15-20 years, according to Romania’s energy strategy published by the Energy Ministry. The current natural gas reserves amount to 101.37 billion cubic meters (bcm). At the current production level and replacement rate, reserves could last for another 15-20 years, reports local Economica.net. The average annual production amounted to 10.8 billion cubic meters in the last years whereas the proven reserves’ annual decline reached 5%. The replacement rate was 80%. Romania also had 42.3 bcm of probable gas reserves, and 10.95 bcm of possible reserves, but their exploitation requires new investments. editor@romania-insider.com