THE MANDATE OF RUSSIAN AMBASSADOR IN ROMANIA ENDS Traian Băsescu wants further dialog with Russia to help valorize economic opportunities

Romania wants its relationship with the Russian Federation to be founded on pragmatic foundations which should take into account both the international profile and the interests of each country, Romanian president Traian Băsescu said yesterday, after Mr. Alexander Churylin, the extraordinary and plenipotentiary ambassador of the Russian Federation in Romania ended his mission in Romania.

Also, the head of state showed that Romania wants further bolstering of the dialog with the Russian party in order to exploit the opportunities for economic cooperation. The two interlocutors have praised the increase in the volume of bilateral trade over the last two years and have emphasized the need to stimulate contacts between the businesspeople of the two countries, in order to efficiently improve the existing opportunities.

In October, in Moscow, Ion Ariton, the minister of the Economy attended the reunion of the Intergovernmental Romanian Russian Commission for economic and technological and scientific cooperation. Attendees of the reunion reviewed the state of cooperation in sectors such as trade, investments, transportation, industry, agriculture, tourism, technology and science and between the Chambers of Commerce and Industry of the two countries.

At the time, minister Ion Ariton met the officials of Russian companies Gazprom, Mechel and Lukoil.

In the case of "Gazprom", officials have expressed mutual interest into a contractual relationship, as well as conducting projects in partnership with the Romanian energy sector. Chairman Aleksei Miller announced the availability of the company which answers in a positive manner to the requests of the Romanian side to establish direct contractual relations to supply natural gas to Romania, and established the priority of ensuring the supply of natural gas needed for the production of electricity. Aleksei Miller has also discussed the interest of Gazprom in investing in electricity generation plants in Romania.

The management of Gazprom also expressed its interest in making investments in the underground storage areas on the territory in Romania.

Also reviewed were the perspectives of continuing the agreements with the transit of natural gas through Romania to the South Eastern market. The two parties reaffirmed the mutual interest in beginning a fruitful collaboration between Gazprom and Romanian companies Romgaz and Transgaz on third party markets in the areas of exploration, exploitation and gas transportation.

Discussions between Romanian officials and the officials of Mechel concerned the investment projects which the company is involved in Romania. Also discussed on this occasion was the possibility of Mechel participating in projects for the development of joint-ventures which would build and operate energy groups in Romania.

Metallurgic group MECHEL owns plants in Târgovişte, Câmpia Turzii, Buzău, Oţelu Roşu and Brăila.

Ministerul Ion Ariton also met with Lukoil officials in Moscow. The talks he held revolved around the investments which Lukoil has made in Romania so far an the company's future investment projects. Between 1998 and 2010, the total investments of LUKOIL in the Romanian industry have exceeded USD 500,000,000. The company has created over 3,000 jobs in its Romanian units and 2,000 more jobs in ancillary activities.