Romanian premier discusses energy at Bucharest

Nastase added that in this respect, Romania should build a long-term strategy for itself that will ensure its energy sector is fully integrated with the single European market.

"It is important for Romania today to have a coherent vision on the part the energy sector has to play in the Romanian economy, and people should be aware of the fact that Romania's engagement in regional cooperation, European cooperation included, depends on the way they understand to solve the issues emerging in the energy sector," said Nastase, explaining that energy as a whole is one of the decisive factors to sustainable development.

"Given the existing demographic and economic boom, the surge in the demand of the developing world, the surge in the demand for energy is an obvious consequence, despite the latest advancements in increasing energy consumption efficiency," said Nastase, adding that "this is the reason why the world community is attaching special interests to the development of the energy sector as well as to better correlation between consumption and primary energy sources".

Romania's economy, said Nastase, will be a part of the large single European market, meaning that Romania will have to posses a competitive domestic market where the weight of eligible consumer is predominant and where the bulk of the production, distribution and supply activities will be carried out in the private sector, instead of in the public sector.

Since Romania's energy policy will be harmonized with the similar policy of the European Union, Romania will have to lay special emphasis on safety, efficiency, environmental protection as well as the protection of consumer rights and the construction of oil and gas pipelines through which crude oil and gas will transit from the Caspian Sea, Russia and the Middle East.

Nastase mentioned in the context the fact that the Romanian government had earnestly tackled the issues of the energy sector, which include the privatization of two electricity distribution corporations to secure large openness to the electricity market as well as finding the best solution for the privatization of the Romanian National Oil Corporation Petrom.

The establishment of a regional energy market in the Black Sea area is a complex process entailing major impacts on the economic, social and political development of the countries involved, Chairman of the Romanian Senate and the Parliamentary Assembly of the Black Sea Economic Cooperation Nicolae Vacaroiu told the same meeting.