President: Romania Needs Decision on Shale Gas Development

Speaking at the appointment ceremony of Attila Korodi as Environment Minister, Romanian president Traian Basescu said that authorities should make a decision on shale gas exploration in South Eastern Romania in order to create jobs and ease the pressure on the pension deficit.

Asking Korodi and other government officials to quickly analyze and reach a decision the Romania’s main investment projects: the exploration and production of shale gas by Chevron Corp., and the development of a gold mine and a copper mine, Basescu said that these resources could only developed in partnership with foreign companies that have the required technological expertise.

The Romanian President said that shale gas could make Romania less dependant on gas imports from Russia.

“Lately it seems we have become extremely fond of the desire to forever remain importers of natural gas. At least this is my conclusion after seeing the urgency with which drilling for shale gas is resisted the President stated.

He added that Poland will soon reduce its dependence on gas imports as a result of shale gas development.

In a pointed comment directed at anti-shale interests, Basescu said “Maybe some people want nothing to happen in Romania.”

Basescu recommended that authorities decide in favor of the investments and of job creation. Romania has a yearly pension deficit of EUR 3.6 billion and the unemployment rate of 7.1 percent.

In early April, Chevron announced the suspension of activities for the exploration and extraction of shale gas in Romania. The company holds concessions near Barlad and three permits in Vama Veche, Costinesti and Adamclisi in southern Romania

Related Reading: Chevron to Continue Seismic With View to Conventional Drilling