Romania's Transelectrica and Prysmian sign agreement for submarine cable

Romanian electricity transport company Transelectrica and Italian group Prysmian recently signed an agreement for a submarine cable that should transport electricity from Romania to Turkey. The two companies will form a team of experts that will analyze the technical, financial and legal implications for building this cable connection. “Romania is an important electricity producer, but one that needs external markets, as our production capacity already exceeds domestic consumption. Romania needs the necessary infrastructure to transport the energy to external partners,” said Prime Minister Victor Ponta, cited by local Mediafax. The talks between Romania and Turkey started in 2006. Back then, the two countries estimated the investment at EUR 400-500 million. editor@romania-insider.com