| THE DOUBLE STRATEGIC ROLE OF THE BLACK SEA AREA IN ENERGY SECURITY 16/10/2009 |
| Last updated: 2009-10-22 19:35 EET |
Romania is a good place to implement new technologies, including those related to oil fields. This remark was recently made in Bucharest at the Black Sea Energy & Economic Forum, a meeting mainly meant to be an exchange of ideas regarding the future of energy security in the Black Sea area. The starting point was the observation that the Black Sea and Caspian Sea areas abound in energy resources, while demand is rising. Discussions focused on the way in which these resources can reach European consumers. The problems to be overcome are mainly the political instability in the area and the high costs involved. Romania believes that future initiatives need to be supported by regional commitments. Adriean Videanu, who was the interim Economy minister at the time of the meeting, said:
"I believe it is very important to have a significant commitment in the Black Sea area, based on large energy projects, such as the Nabucco project. For us, and for other countries, this is a very important project. However, we also have to keep in mind the South Stream and South Stream II projects, which are also important. It is very interesting to talk and find solutions. It is impossible to manage all these projects without these commitments".
Frederick Kempe, president of the Atlantic Council, spoke about the role that Romania could play in the region, building relations with the players in the area. Here is Frederick Kempe:
"Romania plays a crucial role in the Black Sea area. This is a country large enough to be a serious player in the area, but not as large as Russia or Turkey, which are able to look out only for themselves. Romania is interested in the wider region, not just in its own self-interest. Romania could play a crucial role only in partnerships with the EU, NATO, or the US. I understand that Romania is frustrated that this region does not get enough attention. I say region, but it still has a way to go before it is a region truly united in its interests".
Businessmen and CEOs present at the meeting in Bucharest underlined the fact that the Black Sea Region plays a double strategic role in protecting Europe's energy security. The region is a bridge between the energy demands of the West and the rich resources around the Caspian Sea. Furthermore, the Black Sea benefits from its own hydrocarbon deposits as well. Turkey's geography has many advantages, and the country has signed agreements to take part in both the Nabucco, and in the South Stream project. Here is Turkish Minister of Energy and Natural Resources, Tamer Yildiz.
“We gave Russia a positive answer, and we are committed to concluding the authorization process. These are long-term projects that represent a great opportunity for all participating countries, perhaps even our own. The projects will prove beneficial to all the parties involved.”
However, spokesmen for Turkish oil companies present at the meeting claimed that “over the next five years, we expect to find enormous deposits in the Black Sea, even bigger than the ones in Russia”. Turkmenistan also benefits from significant resources. However, the country is waiting for a gas line to reach its borders before beginning to negotiate a supply contract. Yagshygeldi Kakaev is the head of the State Agency for the Management of Resources in Turkmenistan, and had this to say on the matter.
“It is important that we diversify the market. We're waiting to start business on the European market. At the moment, our policy of managing gas resources is limited within the boundaries of Turkmenistan, but we are ready to supply gas to any nation, given that the agreement is profitable for both sides”.
Russia had no government representative at the Black Sea Energy & Economic Forum. However, the attending specialists underlined the importance of a collaboration between the Russian Federation and the EU, including with respect to diversifying energy supply routes. Ion Sturza, former Prime Minister of the Republic of Moldova, gave an overview of one of the reasons why relations with Moscow are important - namely Russia's numerous deposits that are ready to go online. Here is Ion Sturza:
“We're talking about regions in Russia in which extracting gas has long been a common practice, but with the use of obsolete technologies, and based on the principle of pumping as much as you can, as fast as you can. There are still many reserves left which can be exploited using modern technologies.”
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2010-09-10
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