“Neither the shale gas deposits nor the natural gas in the Black Sea will be able to shift the balance of the natural resources,” PwC’s Managing Partner Vasile Iuga said. “Romania won’t become a new El Dorado.”
Speaking at the 2014 ZF Power Summit, Iuga said gas imports are expected to increase until 2018-2020, when OMV Petrom and ExxonMobil are scheduled to start production in the Black Sea.
“Things could get worse before they get better,” Iuga said. “We need annual investments of EUR3 to EUR4 billion, and we need an energy strategy and for the state to get more involved.”