The cooperation agreement was signed in Brussels by the energy ministers of the three countries.
In February 2011, the European Council decided that each member state of the European Union should have at least two natural gas and electricity sources by 2014, to offset any potential halts in Russian deliveries.
Romania and Bulgaria do not yet have a natural gas interconnector, despite the two countries working for several years on a project for the construction of a pipeline between Giurgiu and Ruse. The planned pipeline, which will engulf nearly EUR24 million, is due to be completed by 2016.
Romania’s natural gas needs might increase by 42% in case of a 6-month Russian gas supply disruption to Europe, according to a European Commission’s Stress Test published mid-October 2014. Among southeastern European countries, Bulgaria, Romania and Hungary would be the most affected by a potential Russian gas supply disruption, the report reads.
Thus, Romania’s gas needs would increase by 37% in an average February if government collaborated with neighboring states (cooperative scenario), or by 42% if government did not collaborate with neighboring states (non-cooperative scenario).
According to the EC, Romania should “take all necessary measures to overcome challenges of finalizing the Romania- Bulgaria interconnector in the next months”.
Romania’s annual consumption stands at 12.5 billion cubic meters, of which around 11 billion cubic meters locally produced.