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Ex-Im Bank Forming Partnerships in Southeast and Central Europe

Power, Oil & Gas

Power, Oil and Gas sectors were the focus of several discussions during Ex-Im's Conference. The Power, Oil, and Gas panel included the General Director of Transelectrica, representatives from Rompetrol and INA, and the President of the Region of Istria.

Stevo Kolundzic, Advisor to the Chairman of INA, spoke of the company's investment plans. He mentioned a capital expenditure of $350 million in the near future to expand the company's Sisak and Rijeka refineries. The expansion will require new desulphursatoin and hydrocracking units.

For more information about these projects, please contact the Director for southeast Europe, Ms. Margaret Kostic in Zagreb, Croatia by e-mail at Margaret.kostic@exim.gov.
In the power sector, Jean Constantinescu, Director General of Transelectrica, Romania's National Grid Company, discussed $10.6 billion in needed investment for the Romanian Energy Sector in the next 10 years.
Jonathan Marks, Senior Commercial Officer based in Bucharest, Romania reiterated this need and listed several potential projects in the Power, Oil, and Gas sectors in Romania. These include:

Power Project in Romania

Termoelectrica
1. Thermal Power Economical Operation Survey Project
2. Modernization project at Rovinari power plant -
3. New cogeneration units to replace old 125 MW units at Bucharest South, West

Nuclearelectrica
Construction of Unit II of the Cernavoda Nuclear power plant

Hidroelectrica
Rehabilitation of Bicaz and Lotru Hydro power plants

Transelectrica
1. Rehabilitation and modernization of 400/220/110 kV substations
2. Joint Venture with U.S. company for implementation and operation of telecommunication transmission by optical fibers;
3. Asset Management Project
4. Grid Congestion Management

Oil and Gas Projects in Romania

Petrom SA
1. Alkylation Unit at the Petrobrazi Refinery
2. Revamping of delayed coking unit at one of Petrom's refinery
3. In-line blending at both Petrom's refineries (Petrobrazi and Arpechim)
4. Revamping of propane deasphalting oil unit at Arpechim refinery
5. Revamping gases treatment unit and removal CO2 and sulphur compounds at both refineries

ROMGAZ
1. Construction of several underground natural gas storage facilities
2. Exploration/rehabilitation of gas fields

TRANSGAZ
Modernization of the national gas transmission system

For more information about these projects please contact the U.S. Commercial Service in Bucharest by phone at (40-21) 210-4042 or by e-mail at bucharest.office.box@mail.doc.gov.

Updated: January 26, 2006