Sorin Vlădescu and Răzvan Gheorghiu-Testa participate in Emerging Europe Energy Summit 2006

The global energy market faces new risks in an era of strong demand, tight capacity and high prices - these risks and the appropriate responses to them have been tackled during the 2nd Emerging Europe Energy Summit sponsored by Țuca Zbârcea & Asociații.

The 2nd Emerging Europe Energy Summit has facilitated the dialogue between parties regarding the existing barriers to regional electricity trade, with a specific focus on how these barriers might be removed and what economic benefits stand to be gained as a result.

The Romanian natural gas and energy sectors have undergone significant changes in recent years, involving the privatization of the main operators and the implementation of EU guidelines designed to harmonize the Romanian legal and regulatory environment with those of the EU with a view to complete market liberalization, set as a goal for 2007.

This ongoing process of major transformation, leading to the deregulation of the market, has resulted in a complex range of background issues raised by the required privatization of the main operators, in terms of concessions, clarification on property rights over network related assets, pipeline interconnection agreements, structured financing, trading strategies, ongoing regulation and operational strategies. Our lawyers have participated in a variety of major projects in these areas, having advised on a wide range of oil and gas related matters and on various types of contracts used in exploration, drilling, transportation, distribution, refining and selling of oil and gas, as well as in electricity procurement, generation, transmission, supply and distribution. Sorin Vlădescu, Partner and Răzvan Gheorghiu-Testa, Partner have shared with participants their experience in energy law especially in relation to the status of liberalization efforts made by Romania, the latest requirements and regulations in the field and the lessons being learned.

The 2nd Emerging Europe Energy Summit was organized by IBP Publishing and took place in Vienna on 9-10 November.