Romgaz could apply for European funds through JET Fund, pursues diversification

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Bogdan Tudorache

The transition to a carbon-free economy was the main topic of discussions that took place on Thursday at the Central European Day of Energy conference in Brussels.

In an optimistic and ambitious horizon, the decarbonisation of the EU economy by 2050 requires an easy and strongly regulated framework for all Member States. The key element in achieving the decarbonisation of economies by 2050 is the JET Fund, or in other words the Transition Fund, an instrument that supports and sustains change in decarbonisation, especially for countries in transition and with financing difficulties.

About 20% of the EU budget is intended to be allocated to the energy sector mainly in green energy, climate change and infrastructure between 2021 and 2030.

“Romgaz acts in the direction proposed by the EC, namely the diversification of the company’s activity and the identification of financing possibilities in order to be able to carry out the projects we have proposed. These include the intensification of offshore activities (LukOil and the intention to take part of Neptun Deep from EXXON), the continuation of the construction of thermoelectric power plants following the example of Iernut, the participation in the LNG Terminal project in Alexandropolis, Greece, and last but not least, in addition to renewable energy, investing in a methanol plant. We are very attentive and want to actively participate in the opportunities offered by the JET Fund, because some of the company’s projects are closely dependent on European funding,” said Adrian Volintiru, CEO, Romgaz.

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