With energy uncertainty higher than it has been for decades following US war with Iran, the Energy Forward 2026: Transition, Security and Investments in Bucharest debated how to move forward to counter the crisis and create a more stable energetic climate.
Participants discussed the current economic climate, focusing on price volatility aggravated by the war in Iran, energy security, and the accelerated transition. Despite being an energy producer, prices at the pumps have soared in recent weeks hitting Romanians more than in richer European countries.
The event held at the Sheraton Bucharest Hotel and organized by Adevărul and IC Events, coincided with a no-confidence motion against center-right Prime Minister Ilie Bolojan and there were frequent references to the vote. He was later ousted in a crushing defeat.
Participants examined how international market developments, price pressures, and infrastructure needs impact local energy systems.
Dr. Cornelius Granig executive director of the Romanian Institute in Austria, who has years of experience working with Romania, pointed out that the country was fortunate as an energy producer while Austria was the region’s most important energy supplier.
Austria owns the country’s biggest oil and gas producer, OMV Petrom.
He called for a diversification in energy sources. “Electric mobility is necessary due to environment and prices of fuel,” he said. “The future is alternative energy, solar power, wind power. Look at Ukraine where there are interesting projects…. but they will need their help as Russia is destroying the whole energy sector. It was minus 40C (in the winter) and there was no heating in apartments,” he said.
The conference came a day after OMV Petrom and Romgaz announced the start of offshore pipelaying for the Neptun Deep project. The pipeline serves as a critical link between offshore production platforms and the shore and will contribute significantly to energy security. Cornelius Granig said that doubling energy production there would act as an important buffer to the crisis.
On Monday, Christina Verchere, CEO of OMV Petrom called Neptun Deep “a strategic project for Romania and for the energy security of the region, involving investments of around EUR 4 billion and an estimated annual production of around 8 billion cubic meters of natural gas,”
“In 2026, we will make significant progress here in Romania: installing the offshore pipeline, subsea equipment, and the production platform. All activities are carried out to the highest safety and quality standards, with the objective of starting production in 2027.”
Key Topics included mechanisms behind rising costs and energy system resilience, the role of infrastructure, storage, and AI in grid connectivity as well as the development of renewable energy adoption.
Deputy Energy Minister Marius Posa, leaders from top Romanian energy firms, Dr. Granig, and Richard McLaughlin-Duane, managing director of Origination and Structuring, Metawealth spoke on the panels.
The event’s partners included Romgaz, Transelectrica, Hagag Energy, Electrica, Hidroelectrica, Nuclearelectrica, Veolia, Metawealth, and Transgaz.
