Nicolescu (Deloitte): Romania could earn USD 20 bln. from Black Sea gas


The state could earn more than USD 20 billion from the Black Sea gas extraction in the next 10-12 years, but instead of boosting investments, the state authorities are just discussing this topic, Răzvan Nicolescu, senior consultant, Deloitte, said on Monday.

“In my view, a fair share would be for the state to take more than half of the profit, 55-60% of the profit of all these exploitations, which would mean revenues of over USD 20 billion in about 10-12 years of operation,” said Nicolescu.

The lack of the gas in the market means, in addition to the fact that Romania loses money, and a lower competition in the gas sector, meaning that we have higher prices for consumers, the expert pointed out.

Asked why the investment decision in the Black Sea is delayed, he replied: “I do not know if the problem is nationalism or ignorance and it is difficult for me to say why it is delayed. I think there are several causes. It is important that all the investments resume and we get more gas and more revenue to the state budget, to be used in infrastructure, hospitals, schools, highways. We need money. It’s like having a treasure in the garden and we are near the fence and we are still discussing. The discussions are very good, but at some point things have to be decided,” added the Deloitte representative, according to Agerpres.

He recalled that the same thing happened in the Sterling case ten years ago. In 2009, the public opinion opposed the extraction of gas from the Black Sea by that company, after Romania gained a maritime area at a Hague tribunal, in dispute with Ukraine.


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