The facility currently has a storage capacity of 250 million cubic meters, which will be raised by 40%, to 360 million cubic meters following the investment.
“Romania needs to be more ambitious in terms of increasing its gas storage capacities,” Niculescu said in a press release Thursday .
The minister said Romania will meet its legal obligation regarding natural gas stocks for the 2014-2015 winter season by the end of July. Romania must store 1.7 billion cubic meters of gas this year.
Romania’s annual consumption stands at 13-14 billion cubic meters, of which around 11 billion cubic meters locally produced.