Investments are the pillars of strengthening energy security, and Romania, having important natural resources, if it uses them wisely, can cover the costs of the energy transition and facilitate this process, said Daniel Apostol, Director General of the Energy Employers Federation (FPE), at the conference “Regional approach: Chisinau 2025”, organised by Energynomics.
“Investments are the pillars of strengthening energy security. We cannot speak of solid energy security without investment. The whole of Europe has gone through an energy and price crisis and there has been much talk about security of supply. You cannot make an energy transition if you do not capitalise on the resources you have. Romania is becoming the main producer of natural gas by exploiting the Black Sea. It would be disrespectful to our own resources if we did not capitalise on them, especially as, through their economic contribution, they enable us to bear the high cost of the energy transition. We are talking about long-term and high-value investments,” Apostol said.
The Energy Employers’ Federation (FPE) represents 98% of Romania’s oil and gas producers, which directly employ over 20,000 people. If the ancillary businesses of member companies are taken into account, the federation represents around 150,000 employees. FPE also includes between 7,000 and 10,000 sub-contractors, partners and companies supplying products and services. FPE members account for almost 4% of Romania’s GDP, contributing around 13 billion lei to the economy. More and more members of the federation are interested in new technologies and alternative directions of development, including investments in hydrogen, geothermal, offshore wind and photovoltaics. As such, FPE aims to represent not only traditional energy producers but also those investing in renewable and innovative sources.
According to Daniel Apostol, as Romania takes on its emission reduction targets, projects related to carbon capture, storage and even utilisation will become increasingly common. He also mentioned the collaboration with the Republic of Moldova, considering it natural in the energy sector, emphasising that gas from the Black Sea could directly contribute to strengthening energy security not only in Romania, but also at regional level. At the same time, he warned that investments in energy should not be penalised by an excessive tax burden.
“We have studies that show that the oil and gas production sector is subject to bureaucratic constraints, hyper-bureaucratisation and hyper-fiscalisation. Over-taxation is nothing but a barrier to investment, a penalisation of investment. Investment facilitation is not the investor’s prerogative. The investor waits to see if the state where he wants to develop a project is friendly, if it opens its doors to him to contribute to strengthening energy security – the theme of our meeting today”, concluded Mr Apostol.
The conference “Regional Approach Chisinau 2025” was organised by Energynomics with the support of our partners Elektra Renewable Support, Adrem Asset Management, Boglight Gaz Moldova, Siemens Energy, Simtel, SolaX Power, SolarToday.