Baku, Azerbaijan, September 4. Romania’s Energy Minister Sebastian-Ioan Burduza said in an exclusive interview with Trend that Romania is looking forward to expanding cooperation with Azerbaijan’s state-owned oil company SOCAR on more projects.
“The Memorandum of Understanding signed in Sofia outlines the direction of cooperation between SOCAR and four distribution system operators for additional gas supplies from Azerbaijan to Europe. We look forward to expanding our cooperation with SOCAR in more projects. The company has proven to be a reliable partner and investor in Romania as it expands its business in several sectors of the Romanian energy market,” he said.
Burduja added that one of these projects is an LNG terminal in the Black Sea, which will open up new gas transit routes from the Caspian region, particularly Azerbaijan, and serve as a new entry point for imported gas into the EU market.
“This corridor can be considered the shortest, most direct and independent gas transport route connecting the Caspian gas sources with the EU countries. The feasibility study has been completed and conclusions have been drawn in favor of its implementation. For Romania, this project will ensure the diversification of its gas import entry points, while the EU will benefit by diversifying its sources and supply routes. Liquefied natural gas will ensure a safe, reliable and accessible energy supply, and I am convinced that this project can have a significant positive impact on the energy security of the Central and Southeastern European countries. Therefore, we also hope that this project will receive the support of the European Commission for its rapid implementation,” the minister added.
He pointed out that the Romanian government is business-friendly.
“All serious investors are welcome. Romania has been the EU’s fastest growing economy for the past 20 years and is currently the second largest recipient of FDI in the CEE region after Poland. We have one of the most business-friendly regulatory and tax systems, and energy is a particularly attractive sector,” the minister said.
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