Large gas reserves protect Romania from energy shocks

Romania is one of the European countries least dependent on Russian gas, making it well-positioned to withstand possible shocks emerging from the crisis in Ukraine, according to the Romania Insider.

“Romania’s domestic natural gas production last year covered almost 90 percent of the country’s gas consumption,” wrote the Romania Insider. “This makes Romania one of the countries in Europe least dependent on Russian gas imports and, therefore, least affected by the conflict between Russia and Ukraine.” 

Romania has proven gas reserves of 1.16 billion cubic meters, which at current levels of consumption would cover the country’s requirements for 9 years, according to BP data. Romania also has the ninth-largest oil reserves in Europe, with 600 million barrels of proven reserves, according to the Romania Insider.