Romania will be able to start production of the Black Sea gas no earlier than 2018

Natural gas production in the Romanian Black Sea continental shelf may begin no earlier than 2018. Before that, the government will have to make changes to Romanian tax legislation.

Speaking at the SEE Energy Forum in Bucharest Adviser to Romanian Prime Minister Mr. Ioan Dan Gheorghiu made the following statement: «Before 2018, we can not talk about beginning of the Black Sea gas production. Before that date, we need to conduct a thorough analysis of the situation, and then we will submit appropriate changes to legislation on order to establish adequate system of future fuel resources taxation.»

Referring to future prices of the Black Sea natural gas, the Adviser noted that the pricing will wholly depend on the investors’ proposals and the European gas market conjuncture.

English translation by BSN
Adapted from Ukrinform