Romania's dependency on energy imports will almost double by 2030, if investments in the country's energy segment do not become a reality, said Răzvan Nicolescu, head of public affairs and regulation with OMV Petrol oil and gas company. The current level of dependency on imports is already well above the European average.

The investment needed in the oil and gas sector is some EUR 30 to EUR 60 billion by 2030, according to the OMV Petrom representative, who thinks the figure local authorities put forward, of some EUR 30 billion investments by 2020, will be hard to achieve.

OMV Petrom plans to invest over EUR 1 billion in Romania in 2012, 6 percent higher than last year.

Oil and natural gas will continue to cover around half of the primary energy demand in the country by 2030, according to the company. Non-fossil sources – such as nuclear energy and hydro will increase, OMV Petrom estimates, but, given the higher demand, oil and gas will still be core energy source in 2030.

editor@romania-insider.com