Romania and 11 other countries in Central and South-Eastern Europe are expected to sign a joint declaration with the United States on strengthening the security of natural gas supply and ensuring affordable prices in the region.
The declaration is seen as a first step in facilitating US exports of liquefied natural gas in Eastern Europe, replacing Russian gas. The other signatory states are expected to be Greece, Bulgaria, Hungary, Poland, Slovakia, the Republic of Moldova, Ukraine, Croatia, Lithuania, Serbia, and Bosnia-Herzegovina.
The document underlines the need to optimize natural gas markets so that they are economically efficient and sustainable, while using and expanding existing infrastructure and removing non-market barriers to competitive prices, including by eliminating regulations that hinder gas imports, building new gas infrastructure, and ensuring the long-term stability of natural gas trade.
“Through the joint declaration, the participating countries will declare their intention to strengthen Europe’s energy security by ensuring stable and sustainable supplies from reliable and diversified sources, eliminating Russian sources from the energy balance, and promoting the strategic partnership between Europe and the United States of America,” Bulgaria’s Energy Ministry said.
The joint declaration will be signed during a Transatlantic Summit for Gas Supply Security. Romania will be represented at the Summit by the energy minister Bogdan Ivan, according to information from Profit.ro.
The plans to modernize five of Romania’s natural gas metering stations, at the interconnection points of the national transmission system with those of neighboring Bulgaria and Ukraine, located along the route of the Vertical Corridor, were very recently declared by the government as projects of national importance in the gas sector. The Corridor has a major role in the natural gas supply of the region.
The concept has been promoted by Romania since 2016 as a strategic initiative aimed at reducing dependence on Russian gas and facilitating the supply of LNG by American companies both in the United States and in other areas of the globe: North Africa, offshore Cyprus, the Leviathan and Tamar fields.
By implementing the Vertical Corridor, LNG produced by American companies (Exxon, Chevron) will be able to reach Ukraine from Greece via Bulgaria, Romania, and the Republic of Moldova.
(Photo source: Maricic|Dreamstime.com)
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