The petroleum industry in Romania dates back to ancient times, when the Romans found oil in the province of Dacia. In 1857 Romania became the first country in the world to officially record oil production of 275 tonnes. A recent Romania energy investment backed by the European Investment Bank finances a new chapter in this ancient story.
At the start of the 20th century the country was one of the first in the world to produce natural gas. “We have more than 100 years of experience in natural gas production,” said Dan Niculaie, advisor to the chief executive of Transgaz, Romania’s state natural gas transmission company. “Never before have we been able to share it with the rest of Europe, but that’s about to change.”
Even though Romania started exporting gas to Hungary in the late 1950s, the infrastructure needed to export it further than neighbouring countries has until now been almost non-existent. “Romania produces close to 11 billion cubic metres of natural gas per year, but with new offshore discoveries in the Black Sea, we expect to increase our output,” Niculaie said.
Independent gas production
Romania is almost completely energy independent, meaning that it produces nearly as much gas as it consumes. With the expected increase in gas output, it will be able to export gas to the rest of the EU. However, to do that, an infrastructure upgrade is needed.