Balkan Insight: Romania Invests Hopes in Black Sea Gas

Romania is planning to draft a law to regulate the exploration, extraction and transport of gas from offshore perimeters in the Black Sea, according to officials.

”We have to be ready to get important quantities of gas from offshore wells, which have to be opened in the Black sea in the coming years,” the Energy Minister, Constantin Nita, said recently. ”A new law is necessary as is a new pipeline and a gas terminal,” he added.

Nita said the pipeline might be constructed by a joint venture, most likely formed by Austrian OMV, US-Exxon and the Romanian gas company Transgaz, but no clear decision has been made.  MORE