Media coverage from Dubrovnik
Europe’s energy policy has effectively become a matter of security, in the context of overlapping geopolitical crises, and Romania can play both the role of a hub and a transit state, considers Landon Derentz, Vice President for Energy and Infrastructure and Senior Director at the Global Energy Center within the Atlantic Council.
Speaking in an interview for CaleaEuropeană.ro on the margins of the Three Seas Initiative Summit in Dubrovnik, Derentz underlined the urgency of action, pointed to regulatory obstacles and highlighted the role of Central and Eastern Europe in being more oriented to business.
Referring to the Dubrovnik Declaration, which links infrastructure to security, he argued that “infrastructure and energy are core pillars of economic growth and opportunity” and stressed that “economic security is national security”. In what he described as the most significant global energy crisis since World War II, Derentz underlined the urgency of action, saying “you need to prioritize energy security. You need to prioritize building infrastructure quickly and you need to prioritize making it affordable to the public and the businesses so they can continue to grow and continue to compete on a global scale.”
Against the backdrop of a decade of strong political backing but slower implementation of projects under the Three Seas Initiative, Derentz pointed to the business dimension of the summit as the real driver of progress. “Declarations are powerful political symbols, but ultimately, the real opportunity here at the 3 Seas Summit is the business forum,” he said, noting that “there are a lot of business conversations happening, a lot of deals that I think are being struck here around new infrastructure, data, AI”.
Highlighting the presence of major U.S. companies and energy players, he added that discussions are focusing on strategic projects such as the vertical corridor and new energy technologies. In his words, “a big push of the Three Seas initiative in the business forum is just the conversations on the margins that are leading to results”.
Asked about persistent delays affecting flagship infrastructure projects first discussed at earlier summits in Warsaw and Bucharest, Derentz pointed to systemic obstacles on both sides of the Atlantic. “There’s a lot of bureaucracy and a lot of regulatory barriers to building quickly,” he said, while recalling that accelerated decision-making is possible, as seen in 2022 after Russia’s invasion of Ukraine. “We need to see that same type of behavior happen… because we don’t have time to wait, especially not in a moment of crisis”.
In the context of concerns raised about barriers faced by regional companies, he emphasized the need for a unified regional voice in transatlantic relations. He recalled discussions with U.S. officials and stressed the importance of collective positioning: “coming together and speaking as a region… this is a collective interest for the region”. Such an approach, he argued, signals clearly that “the Three Seas community is interested in getting business done”.
On Romania’s role in regional energy architecture, Derentz described it as both strategic and multifaceted. “I think it’s both a hub and a transit state,” he said, pointing to the potential of the vertical corridor and the broader economic impact of increased energy flows. As access to natural gas expands, he added, “there’s going to be more economic opportunity and vibrancy in your economies as well.”
He also highlighted Romania’s production potential, including offshore developments such as Neptun Deep, noting that expanded infrastructure would enable access to wider regional markets. “You’ll have the infrastructure to reach a broad regional market. That makes it more economic for these projects to go forward”, he said.
Addressing questions about delays in nuclear projects, including small modular reactors and new units at Cernavodă Nuclear Plant, Derentz framed them as long-term investments with significant economic impact. “These nuclear power projects are long-term investments in the Romanian economy that are going to make more economic opportunity come to the market,” he said, adding that interest from technology companies is already growing due to access to energy.
He argued that governments must balance immediate needs with strategic planning: “We have to think both short-term… and making sure consumers have access to affordable supply today. But we also have to make decisions like SMRs… to make sure that you are investing in your future”.
Finally, commenting on remarks by U.S. Energy Secretary Chris Wright regarding Europe’s energy direction, Derentz rejected the idea of transatlantic tension. “I think that the comments of Secretary Wright are not a provocation. I think he would call them energy reality”, he said, framing them instead as recognition of the region’s potential.
“It’s not about discord between Brussels and Washington”, he concluded. “It’s about opportunity and success between Europe and the United States”, pointing to the fact that “a lot of economic opportunity [is] emanating through the Three Seas region.”
