In
a special event which was organised yesterday (20/06) in Sofia,
Bulgaria, by
the Institute of Energy for South East Europe (IENE), the
major reference study conducted by the Institute,
“The South East
Europe Energy Outlook”
, was presented to a selected
audience of policy makers and energy professionals. The presentation
focused on
key areas of the study including the investment prospects of the energy
sector
in the SE European region. Senior government officials, business
executives,
energy experts, representatives of foreign embassies, as well as IENE
members
and associates and contributors to the “South East Europe Energy
Outlook” study
were present in this special IENE event.
The
event began with a welcome message by IENE’s Chairman, Dr. John
Desypris, and
was followed by a short presentation on IENE, its goals, objectives and
organisation by Mr. Nicholas Sofianos, European Programmes Coordinator.
IENE’s
Deputy Chairman and Executive Director, Mr. Costis Stambolis, who
co-ordinated
the project and edited the study, then presented this latest publication
by the
Institute.
According
to the “Outlook” study, the value of energy investments in the region by
2020
is foreseen to exceed 240 billion euros. More specifically, 90 billion
euros
will be invested in electricity (i.e. new power generation units,
electricity
grids, coal and lignite mines, RES), as
SE
Europe
will need an additional 130-140 GW of
installed capacity. Additionally, the investments in RES (including
energy
efficiency) are foreseen to add up to 48 billion euros, while more funds
in the
region of 15 billion will be spend on Energy Efficiency.
The
main conclusion of the study is that the prospects for energy
investments in
the whole SE region, are overwhelmingly positive for the coming decade,
especially as far as the major countries are concerned (i.e. Greece,
Turkey,
Bulgaria and Romania).
Apart from electricity, there are significant
opportunities in all other energy branches in the SE European countries:
-
In natural gas investments in new pipelines, LNG and liquefaction
terminals are
predicted to reach 25 billion euros. These investments are to take place
mainly
in
Cyprus
and
Romania
, following the recent discovery of large natural
gas offshore deposits.
Further investments in the gas sector are also anticipated in Western
Balkans,
Croatia
and
Bulgaria
, where old infrastructure is being replaced and
upgraded.
-
The pipeline projects for the transmission of natural gas from
Central Asia
and the Caspian to
Europe
are of major geopolitical
importance for the region. The respective investments are estimated to
reach 20
billion euros.
-
The investments in hydrocarbon exploration are predicted to amount up to
35
billion euros until 2020 and several projects are already underway in
Turkey
,
Romania
,
Bulgaria
,
Croatia
,
Cyprus
and
Greece
.
-
Investments in refining are expected to come up to 23 billion euros
until 2020.
The
“SE Europe Energy Outlook” presentation was followed by a video
documentary on
IENE’s “SE Europe Energy Dialogue” event which this year took place in
Thessaloniki
early in June. The annual Energy Dialogue has played a significant role
in
developing a broader awareness of the region’s key energy challenges.
IENE’s
presentation event in
Sofia
was concluded with a wide-ranging panel discussion,
chaired by Dr.
Lulin Radulov, Director of the Black Sea Energy Centre. Members of the
panel
included some of
Bulgaria
’s top energy experts: Dr. Lulin Radulov, Mr. Rosen
Simitchiev (Energy
Expert, Consultant,
Bulgartransgaz
EAD
,
Bulgaria
), Mr.
Nicolas Gazdov (Chairman of the Bulgarian Photovoltaic Association –
BPVA), Ms.
Albena Belyanova (General Legal Adviser, Bulgarian Energy Holding), Mr.
George
Ftikas (Lawyer, KLC LAW Firm, Sofia).
The
sponsor of this IENE event was KLC Law Firm, while the “Outlook” Study
sponsors
and supporters included PPC SA, Sencap A.E., EGL, DEPA SA, Hellenic Gas
Transmission Operator SA (DESFA), Terna Energy SA and Protergia SA.
The
“Outlook” study publication will be available from June 27 and can be
ordered
from the Institute’s offices and via IENE’s website (www.iene.gr).