Romania has sufficient natural gas reserves for winter, minister says
Energy minister Bogdan Ivan said that Romania has sufficient natural gas reserves to cope with periods of low temperatures over the unexpectedly cold winter. Moreover, he estimated that prices will not increase after the elimination of the compensation scheme for natural gas on April 1.
At the moment, Romania is coping with winter temperatures through its own reserves and is even making a profit by exporting gas, the minister argued. Bogdan Ivan recalled that storage of gas reserves began as early as last summer, with the authorities ensuring that there would be stocks for domestic consumption “regardless of the conditions this winter.”
Moreover, Romania secured its energy security without Russian gas, which it has not imported for two years now.
“We are outside this energy blackmail that they [Russia] carried out. Today, Romania behaves like a potential regional player because, on the one hand, we import, resell to the Republic of Moldova, and transit gas to Ukraine, in a way that generates revenues. We do not deprive Romania of this important resource; on the contrary, we use the natural gas of other states to also help our neighbors, making profits through Romanian companies,” added the minister.
The challenges do not end once the winter period passes, as Romania is set to eliminate a compensation scheme for natural gas on April 1. However, the prices will not increase after the cap is removed, as was the case with electricity, since the open market currently features offers that are lower than the capped price, the minister pointed out.
However, if external markets lead to another increase in gas prices, as happened immediately after the start of the war in Ukraine in 2022, the government could impose a gradual cap for another year, Ivan said.
“In the unlikely situation that there will be disruptions on the international market, on the regional market, in terms of gas, we have prepared the alternative, namely a gradual reduction of this cap over the course of one year, until 2027, to protect individuals and companies from a sudden increase in natural gas prices,” the official concluded, cited by News.ro.
(Photo source: Inquam Photos | George Calin)
