GOVERNMENT SOURCES: "The Romanian state could be connected to South Stream, with the help of Kazakhstan"

The collaboration between the Romanian and the Kazakh state, through the sale of a small stake of the block of shares which Romania owns in Rompetrol, to KazMunayGaz, the sole shareholder of the Rompetrol oil group, could connect Romania to the South Stream project, according to government sources, which said: "An investment company will be created in which the Romanian government and KazMunayGas are partners. Thus, a "win-win" cooperation would begin. It would seem that part of the game is the intention of Kazakhstan to help us connect to South Stream, considering that this pipeline will go through the Black Sea".

Ionel Blănculescu, honorary advisor to Prime Minister Victor Ponta, considers that an agreement between the Romanian government and KazMunayGaz would be a very good move, which would beneficial for both sides.

Ionel Blănculescu said: "It is a very good thing that the Romanian state is going into business with Kazakhstan, which is going through an energy boom. This country has very big projects, and Romania will be an important player in seeing them achieved. I have long ago proposed treating the Rompetrol claim differently than a debt. Ever since September 2010, I have sent a letter to the Kazakh president Nursultan Nazarbayev, proposing the amicable resolution of the Rompetrol situation and the beginning of cooperation between Romania and Kazakhstan. The world needs to know that the KazMunayGaz group has invested 2 billion dollars since it became a shareholder of Rompetrol and has paid 1.2 billion dollars in taxes each year, and Rompetrol directly employs over 7,000 people".

According to him, the Kazakhs will spend 110 million dollars in the creation of this fund and the Romanian government 30 million dollars, which according to the agreement will also be paid by the Kazakh party.

Ionel Blănculescu said: "We will own 20% of the fund, and in the initial phase 1 billion dollars will be created, with its purpose being the expansion of Rompetrol in the region and the investments in the Black Sea. In turn we will have to allow them (ed. note: KazMunayGaz) to buy back about 25% of their shares, for which we will get about 200 million dollars, which is a very good price, and for the remaining 18% of the stake we own in Rompetrol to have the right of preemption. The Kazakhs will also have the right of preemption on our part of the investment fund".

Ionel Blănculescu also told us that the representatives of the Government will go to Kazakhstan, between June and July, "when we will probably sign the agreement in question".

According to him, until now, the Kazakh company has paid to the Romanian side 249 million dollars in even installments, an amount which represents interest on the claim of 607 million dollars, which the Romanian state has in Rompetrol, "as well as the 70 million dollars which they paid upon the first buyback".