Use Of Black Sea Natural Gas May Generate 30,000 Jobs For Romania

The use of Black Sea natural gas in the Romanian economy could generate at least 30,000 jobs, former President and current honorary chairman of the People's Movement Party Traian Basescu told a televised show on B1 TV.

Buchrest, (UrduPoint / Pakistan Point News - 12th Oct, 2018 ) :The use of Black Sea natural gas in the Romanian economy could generate at least 30,000 jobs, former President and current honorary chairman of the People's Movement Party Traian Basescu told a televised show on B1 tv.

'If these seven billion cubic metres of gas expected to flow annually to Romania from the Black Sea are used in the domestic economy, at least 30,000 jobs will be created that pay social security and health insurance tax, dues, these are people who consume, eat and drink, go on holidays.

It's gas-generated money,' Basescu said.

His statement comes amid debates on the offshore law providing for the charge of royalties on the gas extracted from the Black Sea. Basescu said the royalties should be established depending on the purpose the gas is used for, and cited concrete examples of projects that could be implemented if Black Sea gas is capitalized upon.

'If they want to sell the gas they must explain to the Romanians why they want to do so.

Or they should say: we want to use it for the domestic economy and increase the living standards of the people who use wood and coal heating. You should invite experts, look at viable projects - restarting the petrochemical industry, households gasification, gas compressor stations, the connection to the Republic of Moldova, gas-fired power station - one should identify the feasible projects capable of using seven billion cubic metres a year in extra consumption and depending on this one should decide the level of royalties so as to also keep in the black the resumption of fertilizer production and electricity production and keep the price of Black Sea gas bearable for the population. They should therefore look the other way round,' said the former President.

He added that as Romania has acquired the Moldovan gas transmission company Vestmoldtransgaz,it could deliver annually 1.5 bln cubic metres to the neighboring country but also to other states, suchas Hungary, Bulgaria, Ukraine.