'We are at an important moment for Romania, and we can finally see that the importance of energy is being recognised. Beyond stopgap measures such as price caps or regulation, the only real solution is investment,' said Sebastian Burduja, honorary adviser to the Prime Minister, former Minister of Energy, at a specialist conference on Thursday.
'We are at an important moment for Romania and for the world, and we can see that, finally, the importance of energy is acknowledged. Whether we like it or not, energy is the fuel that powers our economies, our daily lives, and the prosperity of every nation. Romania has effectively had no energy strategy for 17 years. It's like driving a car on a motorway at night without headlights or GPS for 17 years and wondering why you never reach your destination or why you crash into a barrier.
We now have an energy strategy, which has put priorities in the correct order. The mantra I have repeated thousands of times during my mandate is that energy must be safe, accessible, and clean - in that order of priority.
Regarding the 14 billion euros we have frequently mentioned, we have successfully attracted these funds. Few people know that Romania ranked first in absorbing funds from the Modernisation Fund. It is unprecedented for any non-repayable instrument for Romania to be first in Europe. We achieved this performance and are now seeing the effects. Believe me, it warms my heart - not because it is my merit, but because it is the merit of an extraordinary team,' Burduja stated.
The former Minister of Energy emphasised that Romania is beginning to have completed projects and predicted that within two years at most, the country will be in a competitive position in the energy storage sector.
'We are beginning to see completed projects and networks; we are seeing projects in the wind sector, which were effectively frozen for years. We are seeing new solar parks, and we are seeing batteries, as we often hear that we lack storage. I believe that in one or two years we will be in an extremely competitive position in energy storage in Romania.
The priority should be to continue implementing these projects, to complete these construction sites, because only through investment can we reach a point where we can have a fully free market, competitive prices, and Romanians protected through competition rather than state intervention. That is how it should be in a functional market,' the official noted.
The government representative stressed that, beyond measures such as price caps or regulation, investments in the energy sector are what really matter.
'Moreover, there are several initiatives we discussed earlier, which are the result of interactions of the type: We want to do this,' You will never succeed,' Yes, we will do it, and you'll see how' - for example, Neptun Deep. Romgaz showed great courage in taking over Exxon's stake, and now we are seeing a 4 billion euros investment, for which at the start of my mandate, building on the work of my predecessors, we managed to approve the investment decision, began drilling, and from next year we will double national production. Then there is Cernavoda Units 3 and 4, with a signed contract worth over 3 billion euros.
So Romania is on a good trajectory, and I just hope it keeps the pace. The only solution, beyond these stopgap measures such as price caps or regulation, or what is now coming for gas, is investment. And there is no way we cannot succeed if we stick to this plan,' Sebastian Burduja affirmed.
AFEER organised the 10th edition of the Annual Conference on Energy Market Issues on Thursday in Bucharest.
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