Many expectations and few results in the energy field in 2008

A memorandum has been singed for building the 3 and 4 units at Romania's only nuclear energy producer, based in the southeastern city of Cernavoda. The value of this project is estimated at €4 billion. Also, the Electrica Muntenia Sud company, Electrica’s most valuable subsidiary, was privatized in 2008. The buyer was the Italian Enel group and the transaction amounted to €820 million.

Another completed project included the fact that Romgaz, the national natural gas producer, started exporting to Slovakia, where the gas production is extremely low, and Poland.

This year was full of announcements regarding private investments in new plants. The star of the market was the wind energy sector, where projects exceed 10,000 MW. The largest transaction in this field was closed between the Czech CEZ group and the CWP investment fund, for building in Romania the largest wind energy park on land in Europe. The value of the project amounts to €1.1 billion.

The oil market was marked in 2008 by two main events: a historical record of $147.50/barrel in July, followed by a rapid collapse in this year’s second half, to less than $40/barrel. In 2009, the oil barrel can be anywhere between $25 and $200, according to the Rompetrol oil company. The consumption’s growth rate on the local fuel market is expected to drop to 2-3 percent in 2009, from 8-10 percent in 2008.