Romanian companies can earn profits of up to 250 million euros annually if we complete the Vertical Corridor, says Energy Minister Bogdan Ivan, in a Facebook post.
“Today, in Washington, D.C., I signed, on behalf of Romania, the joint declaration to strengthen the security of natural gas supply in Central and Eastern Europe, within the Transatlantic Gas Security Summit, hosted by the Donald J. Trump Institute of Peace.
The declaration establishes the following directions: maximum use of existing infrastructure, expansion of regional interconnections, development of LNG projects, increased transparency and integration of gas markets in the region.
The vulnerabilities in 2006, 2009, 2014 and after 2022 have shown that dependence on a single source is not an option. Diversification of routes and regional integration mean economic stability and greater negotiating power.
Romania assumes an active role in this regional construction. Energy security means competitiveness and economic stability, as well as strategic independence”, the Minister of Energy claims.
The Vertical Gas Corridor is a strategic energy infrastructure project designed to transport natural gas on a South-North axis, connecting liquefied natural gas (LNG) terminals in Greece to Central and Eastern Europe, including Ukraine.
The objective is to diversify energy sources and reduce dependence on Russian gas by creating an alternative route that uses existing infrastructure (such as the Trans-Balkan Gas Pipeline in reverse flow) and new investments.
The project involves transport operators from Greece, Bulgaria, Romania, Hungary, Slovakia, the Republic of Moldova and Ukraine.
The corridor will mainly transport liquefied natural gas (LNG) from the US and other regions through Greek terminals (such as the Alexandroupolis FSRU), but also gas from Azerbaijan.
