Guarantees for Romania's energy future. The Vertical Corridor could bring a profit of up to 250 million euros per year

The Vertical Corridor could bring an additional profit of up to 250 million euros annually for Romanian companies, by increasing transit and liquidity in the market, claims the Minister of Energy, Bogdan Ivan.

Bogdan Ivan, Minister of Energy PHOTO: Facebook

Bogdan Ivan, the Minister of Energy, participated, in Washington, at the Transatlantic Gas Security Summit, during which a meeting was held in a limited format on the topic of the Vertical Corridor, writes Agerpres.

“Within the Transatlantic Gas Security Summit, we had a meeting in a limited format on the subject of the Vertical Corridor, to establish the following technical steps: interconnections, capacity, clear deadlines. The Vertical Corridor means the integration of gas flows from Greece-Bulgaria-Romania to Central Europe, the Republic of Moldova and Ukraine, the exploitation of gas from the Black Sea and the consolidation of Romania's position as a regional hub. The analyzes show a potential additional profit of up to 250 million euros annually for Romanian companies, by increasing transit and liquidity in the market”the minister wrote, on Thursday, on his Facebook page.

He emphasized that, in parallel, he discussed the major nuclear projects, namely the completion of Units 3 and 4 at Cernavodă, an investment estimated at over 7 billion euros, essential for increasing stable production in the strip, and the development of small modular reactors (SMR) at Doicesti, a strategic project that positions Romania among the first European states to implement this technology.

The Minister of Energy had a series of meetings these days in Washingtonessential for Romania's positioning in the regional energy architecture”. He discussed with Atlantic Council representatives about energy security in Central and Eastern Europe and about Romania's role as a provider of stability in a volatile regional context.

Also, at the World Bank, the financing instruments and the mechanisms through which Romania's strategic projects can be accelerated were analyzed – from natural gas infrastructure to investments in new energy production capacities in the band: nuclear and hydro.

“We are talking about the mobilization of financing in the order of billions of euros for critical infrastructure and strategic energy capacities”, Bogdan Ivan scored.

He also had a direct dialogue with the designated ambassador of the United States in Romania, Darryl Nirenberg, to ensure direct and constant communication between Bucharest and Washington regarding Romania's strategic energy projects.

“I thank President Nicusor Dan for his leadership, support and trust. His Majesty's visit to Washington last week created the framework for quick and concrete steps, and the discussions these days were the direct continuation of this initiative. Together with the Government of Romania, we are turning diplomatic capital into results: cutting-edge technology, financing and accelerated execution. I also thank American ministers Chris Wright and Doug Burgum. Their firm commitment to the development of nuclear projects and energy infrastructure for Romania's energy security it will bring results. The objective is clear: more energy in the pipeline for Romania, investments of billions in strategic infrastructure, nuclear projects completed and the transformation of the partnership with the United States into financing, technology and accelerated execution. Romania is no longer a spectator, but a player on the global stage”transmitted the Minister of Energy, Bogdan Ivan.