State energy companies to invest EUR 1 bn this year for upgrading


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For this year, the Minister of Energy Toma Petcu urged the companies in his subordination to mandatory provide the allocation of at least 20 percent of the investment income, which means EUR1 billion in modernization.

“In terms of investment, most of the companies are below the level they set in 2015 for 2016,” Minister of Energy said for Antena 3 TV.

Besides Transgaz and Transelectrica, whose majority shareholder is the Ministry of Economy, only the energy companies have paid over RON 4 billion to the state budget.

Also, the Minister of Energy said that specialized firms will recruit the management for state-owned energy companies, given that the administrators are currently interim, appointed for four months.

On the other hand, Toma Petcu stressed that the negotiations with Chinese company CGN over the construction of units 3 and 4 at the Cernavoda nuclear power plant have to be completed this year. “However, we must also talk about the retubing of the reactors 1 and 2, because they are close to reach 30 years of production and existence, and, unfortunately, we are still not ready to do this,” Petcu said.

At the same time, the Minister of Energy also said he was dissatisfied with Nuclearelectrica’s leadership, because for the retubing project, it is still working on a feasibility study.

Not least, Toma Petcu asked the state-owned gas producer Romgaz to build gas deposits on the Bulgaria-Romania-Hungary-Austria (BRUA) pipeline route, saying that he wants Romania to become a player on the regional gas market, once the ‘huge amount of gas’ that will come from the reserves discovered in the Black Sea will enter the national gas network.

Moreover, he claims that Romania can become a gas exporter.

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