Romania could become energy independent in 2020 but it needs annual investments of some 4.0-5.0 billion euro ($5.1-$6.4 billion) in the energy sector in order to achieve this goal, local media quoted minister delegate for energy Razvan Nicolescu as sayingon Tuesday.

This is the first conclusion local authorities came to after starting a revision ofthe country'senergy strategy, Nicolescu told a news conference, news portal Hotnews.ro said.

Nicolescu added thatthe investments must be directed towards finding new oil and gasreserves,building new production units andupgrading the existingplants and powertransmission systems.

Source: SeeNews