Romanian gov’t, chemical industry sign energy-transition letter of intent

Reading Time: 2 minutes

Romanian Minister of Economy, Entrepreneurship and Tourism Stefan-Radu Oprea and Romanian Chemical Industry Association Romchimica signed a letter of intent regarding joint efforts in the country’s energy transition on Friday, May 17.

The document will form the basis of collaboration for the development of initiatives and partnerships between the government and economic players in Romania that advance the green transition. The chemical industry in Romania consists of some 2,350 companies, with a turnover of EUR 9.7bn and around 22,000 employees. 

The letter of intent was signed at the “Transition Path of the Romanian Chemical Industry to the Green Economy” conference, with Romchimica represented by its president Stefan Vuza. Other attendees included European Council of the Chemical Industry CEFIC director Marco Mensink, European Commission Representation in Romania head Mioara Roman, and Romanian Chancellery head Alexandru Mihai Ghigiu.

“The signing of the letter of intent represents the signal of support that the Ministry of Economy, Entrepreneurship and Tourism, in its capacity as coordinator of the industrial policy, has in mind for the chemical industry and for the entire Romanian industry,” Oprea said.

Oprea added that Romania has all the ingredients to transform the chemical industry into a success story while regulating the trade balance, adding that the government is already in constant dialogue with industry to identify financing methods and state-aid schemes to support the green economy transition. “I invite investors to come to Romania because we have resources – gas, oil, green energy – the possibility of capturing and storing carbon and, when we make technological progress, also hydrogen,” Oprea said.

The Romanian government said in a statement that it aims to develop partnerships for the energy transition with businesses from economic sectors that contribute significantly to greenhouse gas emissions, especially of carbon dioxide and methane.  This is in line with Romania’s long-term strategy to cut greenhouse gas emissions, as part of the 2021-30 integrated national plan regarding energy and climate change, and the related European and national regulatory frameworks, the government statement added.

Mensink welcomed the signing of the document and said the need for action is the essence of the Antwerp Declaration. He said: “The key to Europe’s future lies in the economic agenda. It is important that industrial policies complement the Green Deal and not turn everything into a competition between citizens and industries. Romania is in an excellent position to be part of this industrial future of Europe,” Mensink added.

“The industry will approach the energy sources available where the infrastructure is available and where the raw materials are at affordable prices, and the Romanian chemical industry is in continuous development. The important message we have to convey is that Romania is ready to enter into business in this sector of green investments,” Mensink said.

Romanian Prime Minister Marcel Ciolacu said “We are preparing to implement the Green Deal Industrial Plan and the Net Zero Industry Act Regulation, recently adopted at the European level, and for this, we need mature projects and green financing. 

“On a national level, we are looking for solutions to increase the competitiveness of the industry and locate in Romania as many industrial investments as possible in sectors with high added value. Through permanent dialogue between the government and the economic sectors, we will find the best solutions for Romania to go through an orderly energy transition and meanwhile increase the competitiveness of the economy.”