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The bulk of Romania's trade deficit with third countries comes from trade in chemicals – fertilizers, pellets that turn into various plastics, and so on. In 2017, our exports amounted to 2.76 billion euros, imports to 10 billion euros, a difference of 7.2 billion euros.
The total trade deficit was 13 billion, which means that more than half is chemistry. Why? The answer is simple: because Romania no longer has this industry, which it once excelled. Petrochemistry is now only in Petromidia, part of Rompetrol, and a little bit in Oltchim. On the other hand, in the category of chemical fertilizers, our country has lost much of the industry.
The InterAgro, owned by businessman Ioan Niculae, has been closed for a long time, some being already cut off, only Azomures still exists. knows success. Under these conditions, the market is flooded with fertilizer from Hungary, Ukraine, Turkey and even further afield from North Africa, Morocco, Tunisia, Egypt.
Second, in terms of deficits, and motor oils, also refined products. Exports amounted to 2.5 billion euros, imports to 5 billion euros
We presented these data in the context where the debate on legislation on the exploitation of the Offshore gas in the Black Sea has reached its peak, reaching far beyond the borders of Romania. Romania has a lot of gas, hundreds of billions of cubic meters in reserves, but has little to consume locally. The treatment of this resource in Romania brings wealth, not extraction and export. The great advantage would not be that Romania would receive only royalties, transit taxes and other taxes levied on an ordinary enterprise, but that these gases would economically increase the country through reindustrialisation. The chemical industry is directly related to the exploitation of gas which, as we have seen, hardly exists anymore in Romania. Its revitalization would bring wealth here, not by neighbors.
How, however, is another problem. The authorities do not have a concrete plan. There has been talk of extending gas distribution to 1 million homes that are currently heating themselves to wood, about a new gas plant in Mintia near Deva, to the possibility that Romgaz will take over an InterAgro combined with recorded flows, and About this Nothing concrete, nothing at least on paper, Romania does not even finalize the energy strategy
All eyes on Romania
Meanwhile, the "boiling" of Black Sea gas is echoing not only in Bucharest, but also in Budapest, Brussels and even Washington. Not to mention Moscow. The rush of local and international actors comes because, nowadays, it is decided the fate of offshore exploitation – reserves estimated at 200 billion cubic meters. But an important onshore discovery, in Padina, of about 40 billion euros, was announced by Petrom and Americans Hunt Oil. It is understandable where the interest of neighbors for this resource. And not only theirs. Just understand that every cubic meter of gas exported by Romania moves a cubic meter of gas sold by Gazprom.
Meanwhile, Hungary also has a double pipeline network to Romania, with double storage capacity, and reserved for 15 years (via a company owned by the state-owned company MOL ), 2021-2036, all quantities that will go west via the Arad-Szeged pipeline. The Hungarians are prepared for the Black Sea gas, they want a lot to dispose of it as they see fit, us less.
Romania now has an annual consumption of 11 billion cubic meters and the Black Sea would bring from 2022, 8 billion, 6 to 7 billion from the Exxon – Petrom concession, 1 to 1.5 billion from the BSOG.
This is happening now
This week or next week, the law must be passed in plenary session of both Houses of Parliament, meeting in extraordinary session. On this occasion, the European Commissioner for Energy and Vice-President of the EC, Maros Sefcovic, went to Bucharest to send encouraging messages to the authorities in order to legalize the offshore exploitation earlier. . "In this context, Romania can become a very important player in the gas market," said the EU official, referring to the Black Sea and BRUA, the gas pipeline that would bring gas to Western Europe via Hungary
Last week, the US State Department said in a press release that Black Sea gas is a promising but untapped source of energy that would strengthen energy markets and energy security throughout the region. We are closely monitoring developments as the Parliament and the Government of Romania develop legislation that will establish a stable fiscal and regulatory framework for energy companies wishing to invest in the development of this resource.
Hungarian Foreign Minister Péter Szijjárto said that Central Europe's energy supply is a security problem, arguing that it is necessary to keep up the pressure on the economy. Romania so that it starts its natural gas extraction. The Black Sea Sjjjárto also said that it is necessary to increase international pressure on countries in the region that violate their commitments on the reversibility of gas flows through interconnection, giving to the Romania and Croatia examples
. the director of the Hungarian gas transportation company came to Bucharest to say nonstop that Romania has no petrochemical anyway, it only has 30% of households connected to the gas network, so we have nothing to do with the gas to extract from the Black Sea. In addition, we should accelerate the legislative process that regulates offshore activities.
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