E.ON Romania Confirms Budget for Gas Network Upgrade, Bucharest Moves on With Gas Law

Romania is trying to speed up gas activities amid renewed interest for its onshore and offshore potential. 

On Tuesday, E.ON Romania said that the company maintains 2014 investment levels also in the current years. It intends to upgrade a 550-kilometre pipeline system.

‘The distribution networks still need massive investments, because they were outdated in 2005 when we took over. To make these investments, we need legislative and fiscal stability and predictability. We wouldn’t want to see new taxes introduced overnight or modified without a minimum consultation’ reads a note released by the daughter company of Germany’s E.ON. 

Of the EUR 94 million to be invested in gas and power distribution networks, over 36 million will be directed to the gas network.

It is likely that Romania will keep making the headlines also for a second reason.

On Monday, Romania’s Deputy Finance Minister Dan Manolescu said the government will send a draft law on royalty taxes for the oil and gas sector to parliament in September. According to Reuters, the country is expected to tender 36 new concessions for onshore and offshore hydrocarbon licences.  

Last week, while Kiev voiced its interest to import gas from Bucharest, Bulgaria, Hungary, Romania and Slovakia declared their support for more efficient interconnections. The four countries signed a document recording common political intent to further integrate their gas markets. 

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