THE WEEK IN REVIEW
July 31- August 4, 2023
Roxana Vasile, 05.08.2023, 17:50
Romanian gas extraction from Neptun Deep getting closer
The final development plan for the Domino and Pelican Sud commercial deposits in the Romanian Neptun Deep perimeter in the Black Sea was confirmed, on Thursday, by the National Agency for Mineral Resources. The announcement was made by OMV Petrom and Romgaz, the Austrian and Romanian companies that exploit natural gas from the mentioned perimeter. As a result, the Neptun Deep project enters the development phase, which involves both the awarding of contracts and the execution of drilling activities and the construction of the infrastructure necessary for the extraction of natural gas. OMV Petrom and Romgaz will invest up to 4 billion euros for the development phase of the Neptun Deep project, which will generate a production of about 100 billion cubic meters of natural gas, with the start of production estimated for 2027. The Neptun Deep perimeter has an area of 7,500 sq km, and is located at a distance of about 160 km from the shore, in waters with depths between 100 and 1,000 meters. Exploration of the perimeter was accelerated in 2008, and the first gas finding took place in 2012.
Romania and the war in Ukraine
The Ministry of Foreign Affairs in Bucharest confirmed that the ad-interim charge daffaires at the Romanian Embassy in Moscow was summoned by the Russian authorities, in order to inform them that they are introducing identical quotas regarding the number of diplomatic and technical-administrative staff of Romania in Russia, in mirror with the recent decision of the Romanian authorities by which the number of staff of the Russian Embassy in Bucharest was limited. The entire responsibility for adopting measures to reduce the number of Russian diplomatic agents and technical-administrative officials belongs exclusively to the Russian side, given the continuation of the illegal war of aggression in Ukraine and the increase in security risks in the Black Sea region – stated the Romanian Ministry of Foreign Affairs. On the other hand, the Russian army attacked, once again, the Ukrainian ports of Reni and Izmail on the Danube. Izmail is located just a few hundred meters from Romania. President Klaus Iohannis spoke of war crimes, and the Ministry of Defense reported that, following assessments, no direct military threats to Romanias territory or its territorial waters were identified. Russias attacks come after it pulled out of an agreement that allowed Ukrainian grain to be exported safely across the Black Sea. However, traffic on the Danube is the last route by which Ukraine can export its grain by water, and Romania is trying to eliminate the congestion on the river generated by Moscows decision. The data shows that, at present, the Danube and the mouths of the river are congested with ships trying to enter or leave Ukrainian ports.
A new Forestry Code in Romania
In Romania, a new Forestry Code was launched for public debate on August 1. The forested areas where deforestation will be prohibited would increase approximately 10 times, and the vehicles that illegally transport wood material would be confiscated. The authorities stated that, at the present time, complete deforestation is prohibited on approximately 5% of Romanias forested area, and, through the draft of the new Forestry Code, this prohibition will apply to an area of almost 50%. Based on the new Code, the state will also be able to undertake the reforestation of lands that were previously deforested and later abandoned by the owners. With the adoption of this draft law, the Penal Code will also be amended, which will punish with up to five years imprisonment false statements regarding the transportation of wood materials.
ʹRabla Localʹ is a success
This week, the ʹRabla Localʹ program started in Romania, through which individuals can scrap their car older than 15 years in exchange for 3 thousand lei (about 600 euros), without being obligated to buy a new one. 80% of the money is paid from the State budget, and 20% from local budgets. 500 town halls were registered in the program, and the total amount allocated is 240 million lei (48 million euros). People can sign up until August 31, or until the program runs out of money. It didnt even start, however, that ʹRabla Localʹ reached its objective — according to the Minister of the Environment, Mircea Fechet, according to which there are already localities that have exhausted the allocated funds. The other two existing programs in Romania — ʹRabla Clasicʹ and ʹRabla Plusʹ — also enjoy major interest and register significant increases compared to last year — said the president of the Environmental Fund Administration, Laurenţiu Neculaescu. The data so far shows a 25% increase in registrations of new cars with internal combustion engines and a 57% increase in electric ones, while the import of used cars has decreased by 21%.
UNTOLD 2023
The biggest and most anticipated music festival of the year in Romania, but also one of the most popular internationally, debuted on Thursday in Cluj-Napoca (north-west). Between August 3 and 6, at UNTOLD, now in its 8th edition, more than 400,000 people are expected. About 250 top national and international artists were invited to perform on eight stages. Among them — the band Imagine Dragons, for the first time in Romania, David Guetta, Armin Van Buuren, Bebe Rexha, Ava Max, Martin Garrix, Steve Aoki or Salvatore Ganacci. UNTOLD 2023 expects revenues of around 80 million euros.
