The Diplomat: Basescu signs off on shale gas after Nabucco project fails
President Traian Basescu says he has informed the European Council that Romania will revise its energy policy after the failure of the Nabucco pipeline and will consider the exploitation of the countrys own resources without waiting for more external approvals.
"I now agree, with no doubt, that Romania must accelerate the evaluation processes and move on to the exploitation of shale gas, and evaluate and move on to the exploitation of the gas & oil reserves already confirmed in the Black Sea," said President Basescu.
He added that another source for Romania would be resuming the exploitation with modern technology of the currently abandoned oil fields which have been exploited in the past.