In late 2004, Romania and Bulgaria joined the North Atlantic Treaty Organization (NATO), to seek membership of the European Union (EU). Romania completed its energy negotiations in mid June, which is necessary for EU membership. In October 2004, the European Commission (EC) voted for Romania as a “functioning market economy”, another condition for EU membership.

The energy sector of Romania is largely dependent on gas, oil and coal. Romania has one of the largest reserves of oil and gas in Central and Eastern Europe. However, lack of domestic production facilities led the country to depend on imports for its energy requirements.

Romanian government is focusing on improving its nuclear and hydro power plants to decrease its dependency on conventional energy source.


(from GlobalData)