Major takeaways from the 2017 Aspen Energy Summit included the following:
• Romania is committed to become an important player in the regional energy market, wanting to be a key provider of energy security for the region.
• In the context of regional market integration, the BRUA pipeline is essential for connecting the recently discovered resources in the Black Sea with CESEC markets. This is an essential step in transforming Romania into a regional energy hub.
• Romania’s energy focus is set on capitalization of the Black Sea resources, where an ongoing investment will focus on the 10 billion cubic meters of gas from the Black Sea. In order to fully capitalize the country needs the BRUA project operational.
• Diversification of sources and fuel types means that Romania is also focusing on LNG as potential alternatives, the AGRI LNG project is a viable alternative, but it should compete with other projects in the Caspian region.
• The EU and Romania’s sustained effort to connect to the Republic of Moldova should continue, as the Moldovan officials continue their process of aligning to European standards. Officials from both sides making the point that feasibility is sometimes trumped by security and geopolitics.
• The US officials expressed concerns with regard to projects that undermine European energy security such as Nord Stream II and Turkish Stream, that would only increase dependency on the Russian gas, bypass transit through Ukraine’s pipelines.
• Ploiesti is a key engine of the Romanian energy sector, offering skilled workforce and technical expertise, a growing business environment that enables national and transnational investments.