Romania's gas storage levels are above the European average and exceed the 80% target, with household consumers assured of both price stability and sufficient supplies, as are district heating systems, Secretary of State with the Ministry of Energy Cristian Busoi told the Natural Gas Forum on Monday.

He also highlighted the need to continue reducing the budget deficit, meaning that support could not be provided to large electricity and natural gas consumers to cover the difference in their energy bills.

'Our storage levels are above the European average and exceed the 80% target set under European legislation for 1 October. We will continue production throughout the winter. Household consumers are assured of both prices and quantities, as are district heating systems. However, we still do not have a solution, and we will need to find one together, given the need to continue reducing the budget deficit. We do not have the budgetary resources to accommodate new expenditure or provide support to cover the difference in energy bills for large electricity and natural gas consumers. Clearly, this is a matter of serious concern,' Busoi said.

According to him, gas prices doubled in October 2026 compared with the same period last year, with the conflict in the Middle East being the main cause.

'We are talking about gas prices of 80 euros, compared with October 2025, when offers were available at 30-35 euros, meaning prices are more than twice as high. We all know the main cause: the conflict in the Middle East, the closure of the Strait of Hormuz and damage to some production facilities in Qatar during the first days of the conflict, which could take almost a year to repair. As a result, Asia and the European Union are competing fiercely for liquefied natural gas from the United States. In this context, it is very important to reaffirm our essential partnership and support for the US. In 2022, without liquefied natural gas, the European Union would have faced a severe crisis,' he said.

Busoi assured the audience that a repeat of the 2022 situation was not expected, although there was 'considerable concern' across the EU about the outlook for natural gas prices.

'We do not expect a repeat of the 2022 situation. Neither the experts nor the analysis presented at the latest Energy Council meeting in Dublin, attended by EU energy ministers, point in that direction. However, there is considerable concern within the European Union about natural gas prices, which obviously affect electricity prices. We also have the letter from European Commissioner [for Energy and Housing] Dan Jorgensen. There are also some concerns. Politico recently published a very interesting analysis addressing access to supplies, beyond the issue of very high prices. As Europe's largest natural gas producer at present, Romania is in a relatively protected position,' the Secretary of State said.

The Ministry of Energy representative believes that reopening the Strait of Hormuz would lead to 'some normalisation of natural gas prices.'

'Once the Strait of Hormuz reopens, some normalisation of prices is expected. This could also lead the European Union to recognise that natural gas projects still need support, not through direct funding, grants or financial instruments. We understand that the focus there is on clean technologies and renewables, but commercial banks must continue to find natural gas investments attractive, and permitting procedures must remain accessible. I have consistently made this point at the last six or seven meetings of the EU Energy Council, attended by energy ministers: it is more advantageous for the European Union to produce natural gas within its own territory. The technologies are state of the art, and such projects create jobs and generate tax revenue. In terms of environmental protection, we can be confident that standards are much higher than, for example, in North Africa. I am not referring to the US or Norway, which have high environmental standards, but to other countries from which the EU imports natural gas. So why should we not make these investments within the European Union, especially since we need to eliminate Russian gas imports entirely?,' Busoi added.

Cristian Busoi, Secretary of State with the Ministry of Energy, attended the eighth edition of the Natural Gas Forum on Monday, on 'The Role of Natural Gas in Romania's Reindustrialisation.' The event was organised by Financial Intelligence in partnership with the Intelligent Energy Association.

AGERPRES National News Agency is one of the media partners of the event. AGERPRES (RO - writing by: Oana Tilica; EN - writing by: Adina Panaitescu)