Romania's New Cabinet Is Interested in Shale Gas Talks

Romania’s negotiations with Chevron Corp. (CVX) on the exploration and production of shale gas will be an “area of interest” for the country’s future government, Designated Prime Minister Victor Ponta said.

Ponta wants Romanian companies to be competitive when facing Polish companies, a country which has already started exploitation of shale gas to lower energy costs, he said in an interview with Realitatea TV, a Bucharest-based private television station, late yesterday.

Gazprom OAO (GAZP) will be disadvantaged should Romania start using shale gas to reduce its reliance on Russian gas, Ponta said, according to Realitatea TV.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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