OREANDA-NEWS. May 14, 2012. Opportunities to invest in the Moldovan energy sector were unveiled at a forum, "Energy sector in Moldova: legal aspects and opportunities for investments," held in Chisinau.

Seven of the biggest Italian companies in the energy sector participated in the forum. In particular, the event's goal is to develop the Moldovan energy sector via the promotion of promising investment projects and creating business partnerships between business people from Moldova and Italy.

"The presence of many enterprises at the forum proves not only interest, but also will to contribute, by their capacity of technological potential, to developing a sector that is much dependent on the foreign countries," Italian Ambassador to Moldova Stefano de Leo has said.

One of the government's major objectives is to diversify the energy resources, as well as the types of fuel, in conditions when the dependence on exports is very high, Deputy Prime Minister, Economics Minister Valeriu Lazar has said. He noted that the enhancing of the energy efficiency is also an important goal, as the energy intensity is thrice higher in Moldova against the European Union's average. "For a period of 10-15, or even 20 years, this industry of energy efficiency has a huge potential in Moldova, given the exaggerated level of energy efficiency. We have a great potential of assimilating investments in this field, as well as a potential to apply expertise of Italian companies, including the technical one," Lazar also said.

"The problem of sure supply with energy and the latter s as efficient as possible use is one of Moldova's strategic objectives. It is not at all accidental that, in the "Moldova 2020" draft strategy, recently approved by the cabinet and widely discussed by the parliament, one of the seven strategic priorities set by the government is the energy sector," the deputy prime minister said.

Referring to opportunities to invest in the energy sector, Valeriu Lazar said that, till late 2012, a tender will be organized to select a company that will construct a gas pipeline Ungheni-Iasi (between Moldova and Romania). Another project is the modernization of the Moldelectrica electric energy conveyer. On the days to come, the European Bank for Reconstruction and Development (EBRD) will approve a 20-million-euros-worth loan to implement this project, and a tender on selection of a firm due to carry out this project, will be organized in 2012. Projects on increasing the energy efficiency and on renewable energy represent an opportunity for investments.

The forum brought together representatives of the state bodies that regulate the energy sector, business people from Moldova and Italy, national and international organizations from the field.
The event was organized by the employers' association Confindustria Moldova, in concert with the Economics Ministry, Moldovan Investments Attraction and Export Promotion Organization and the consultancy company Eastern Consulting.