Even if its most important foreign energy policy project, the Nabucco gas pipeline, collapsed in June 2013, Romania keeps significant options to improve its energy security on the medium term. Romania has both domestic development potential, namely to increase the productivity of mature conventional wells, to develop new finds in the continental Black Sea shelf and to explore and develop the country´s shale gas plays, and prospects of import diversification. The accomplishment of each of these strategic objectives is marked, however, by considerable uncertainty due to regulatory, economic and geopolitical constraints in Romania and the wider Black Sea region.

 

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