Romgaz and Gazprom have agreed to set up a joint venture to build several natural gas storage facilities and thermal power plants in Romania, Economy Minister Adriean Videanu said at the EU-Russia Economic Forum in Bucharest last week.
The two companies will own the joint venture in equal shares of 50 percent each.
"Following talks with the Russian officials during my visit to that country, we have decided the setup of a Romgaz-Gazprom joint venture to build gas storage facilities and produce electricity in this part of Europe," Videanu explained.
He underscored that a joint committee aimed to analyze the development of the two countries' collaboration projects in the energy field will also be established.
In addition, Romania plans to develop a strategic energy partnership with Russia.
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