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Eir-June-2020-Min.Pdf clean energy since 1909 S.N.G.N. ROMGAZ S.A. The company is listed on Bucharest Starting with 2013, Romgaz extended its scope Stock Exchange and GDRs are transacted of work by taking over the Iernut thermoelectric power station, and thus it became also electric on London Stock Exchange. power supplier. Romgaz undertakes geological exploration in order to discover new gas reserves, produces Romgaz is the largest natural gas methane by exploiting the reservoirs included in producer and the main supplier in the company portfolio, stores natural gas in the Romania. underground deposits, interventions, workover and special operations on wells and technological transport. www.romgaz.ro COMMENT Daniel Lazar are available), energy from renewable sources accounted for 21.1% of the total energy consumption for heating and cooling in the EU, which is a significant growth, from 11.7% in 2004. Among EU Member States, the variation is significant. Is the Bet on In Austria (73.1%), Sweden (66.2%) and Denmark (62.4%), at least three-fifths of total electricity consumption was generated from renewable energy sources. Renewable Largely due to the use of hydropower and wind power - while more than half of the electricity used in Latvia (53.5%) and Portugal (52.2%) came from renewable Energy the energy sources. On the other hand, in Cyprus (9.4%), Luxembourg (9.1%), Hungary (8.3%) and Malta (7.1%), Winning One? the share of electricity generated from renewable sources was less than 10%. Sweden has by far the largest share of renewable energy among EU Member States, with more than half of the gross final energy consumption (54.6%), followed by In 2018 (the Finland (41.2%), Latvia (40.3%), Denmark t a time when the major oil last year for (36.1%) and Austria (33.4%). On the producing countries decide which official other hand, the lowest shares of energy production and price, which has an data are from renewable sources were recorded A effect fully felt by the economically available), in the Netherlands (7.4%), Malta (8.0%), vulnerable states or those with energy from Luxembourg (9.1%) and Belgium (9.4%). major oil consumption in their economy, and renewable With the freezing of the economy (and for the extracted gas resources regional networks sources industry, by default) on most of the world’s are required for pipeline transmission, more and accounted for meridians, electricity consumption has more bet on renewable energy. Whether we are 21.1% of the also declined. Now it remains to be seen talking about solar, wind energy or solid biofuels total energy whether and how long it will return to pre- (including renewable waste), investments in the consumption pandemic levels. That’s because, based on field are higher than ever and this is also due to for heating the recent surveys, the following immediate the fact that, at least at in terms of statements and and cooling impacts are frequently highlighted: PR industry, global warming must be tackled. in the EU, changes in electricity demand patterns; Statistical data show that, in 2018, wind which is a decrease in coal and oil consumption; energy was the only and most important significant priority development of digitalization source of electricity generation from renewable growth, in energy processes; the impact of the sources in the EU, as the quantity of electricity from 11.7% supply chain disruption and the delay of produced from hydropower was relatively in 2004. construction projects of power plants from similar to the level recorded a decade earlier. renewable energy sources; greater focus In turn, the quantity of electricity generated on energy storage development projects. at EU level based on solar energy and wind For the energy systems, experts believe turbines was by 15.5 times and 2.9 times that impact will decrease progressively, higher respectively in 2018 than in 2008. from a maximum in the first three Therefore, the increase in the quantity of months to 18 months. Moreover, we electricity generated based on solar power was expect a war of low oil prices to start, with significant, recording an increase from only implications primarily on the energy 7.4 TWh in 2008 to 115.0 TWh in 2018. sector, but also with important changes In 2018 (the last year for which official data in the energy mix of countries. 3 CONTENTS ENERGY INDUSTRY REVIEW | June 2020 • Year 3 • Number 26 34 VOICES 22 Green Energy Transition 16 Will Continue in Spite of Pandemic Impact INTERVIEW Amidst the chaos, uncertainty, and coronavirus-induced investment slowdown, it is imperative that global leaders do not become President Alexandra Damascan- distracted from economic initiatives 22 Armegioiu on Serinus Energy that contribute to Europe’s low- carbon economy transition. Long-term Plans in Romania She talks about the recent developments of the Moftinu gas project as well as the future steps to achieve the company’s objectives in Romania. Delivering Critical Energy 18 Infrastructure Is Key for Pandemic Recovery OIL & GAS The pandemic has reinforced that determination by illustrating the need for greater electrical system stability, lower costs, and a full- DNV GL Report Finds Hydrogen Promising fledged plan to tackle long-term 32 threats like climate change. Decarbonization Path for Oil & Gas Sector A new report reveals that hydrogen has surged up the priority list of many oil and gas organizations, taking a primary position in the sector’s decarbonization efforts. Oil Fall Between 20 Virus and Prices Romgaz Investment Strategy for 2020-2025 Owners of fossil sources are 34 interested in returning to oil, whose prices have plunged massively. Not only for technical and economic, Romgaz plans to be an active, profitable and competitive overriding reasons - the specialists player on the gas and electricity production market, and to say, but also for political reasons. enter new markets such as petrochemical products market. 4 40 CONSTRUCTION 56 Algeco’s Solutions for ‘Social Distancing’ Specialists concluded that the frequent movement of people is one of the most important sources of infection. Therefore, the extension of spaces for the application of new spacing rules may also aim at creating working conditions for employees, which considerably reduces the risk of contamination. POWER Impact of SARS-CoV-2 Coronavirus 66 Crisis on the Energy Sector The Word Energy Council (WEC) has prepared a study on the long-term impact especially on the energy sector and post- pandemic prospects generated by the SARS-CoV-2 coronavirus. This allows identifying the future directions of action, based on OIL & GAS the evaluations of experts in the field from around the world. Bitumen Production in 40 Romania, ‘non-existent’ RENEWABLES or Historic High? The officials of Rompetrol say bitumen Impact of COVID-19 on production in 2019 was 120,000 tons, 70 Renewable Energy Auctions the largest production in history, larger than the previous record reached in 2018, when Vega refinery In a recent Policy Brief, AURES assesses the impact produced 102,000 tons of bitumen. of COVID-19 on Renewable Energy Auctions. While auctions can be postponed, EU Member States should in general refrain from adjusting RES auction volumes downwards in already announced auction schedules. ENVIRONMENT METALS & MINING Post Covid-19 and the 44 Hydrogen Sector Talking About Green Deal While 76 Pollution Is Still Higher The clean hydrogen sector has finally reached the pre-commercialisation Hard coal emitted 13% of EU ETS emissions, despite generating phase and is ready to play its essential only 10% of Europe’s electricity. The remaining gas-oil role in decarbonising our economies. generation makes up 22% of EU ETS emissions. In total 844 Clean hydrogen is a perfect partner to million tonnes of CO2 were emitted from the power sector the European Green Deal, enabling the in 2019, summing to 52% of total EU ETS emissions. realisation of its climate, environmental and economic development goals. World’s Biggest ANALYSIS 52 Green Recovery Spending Program Hydrogen: Is This the Future? (I) More than 1.2 million people signed 86 an environmentalist organizations’ While cataclysmic events in the energy sector are petition for the world’s biggest green unfolding, the status quo and its king, oil, are being recovery spending program to reverse challenged by emerging contesters. Hydrogen has proven the damage from COVID-19, according to be one of the prime challengers as it seems that it to balkangreenenergynews.com. will be playing a very important role in the future. 5 HEADLINES Domestic Electrica, Hidroelectrica Funds of EUR 1bn for and SAPE Interested in Companies Affected Acquiring CEZ Romania by Pandemic Electrica informs shareholders and investors that it is EUR 1bn funds from the Ministry of currently exploring the possibility to participate, within a European Funds could enter the budget potential consortium formed together with Societatea de of the Ministry of Economy, Energy Administrare a Participatiilor in Energie S.A. (S.A.P.E. S.A.) and and Business Environment (MEEMA), Societatea de Producere a Energiei Electrice in Hidrocentrale to be made available to companies in Hidroelectrica S.A., in the competitive procedure organized the sectors affected by the crisis created by CEZ a.s. for the sale of its subsidiaries in Romania. by the COVID-19 pandemic. Electrica also announces that it will promptly inform At a first evaluation, approximately shareholders and investors on any aspects regarding the potential EUR 350mln could go to companies participation in the project, which will have to be reported in HoReCa and transports, and in accordance with the applicable legal provisions. It should approximately EUR 100mln could be be noted that the sale of any stake in energy companies was granted as vouchers to companies that suspended by the Government during the state of emergency.
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