In the coming years, the cohesion funds of the European Union must be directed towards increasing the competitiveness of its member states, which are losing ground to countries with an accelerated development. Thus, the exploitation of shale gas represents a chance to increase the competitiveness of the Romanian and European economy, said Hendrik Bourgeois, Vice President European Affairs at General Electric (GE).

He explained: "US experience shows that shale gas are a cheap energy resource, which has provided the American industry with a much needed oxygen reserve for retooling and improving its competitiveness on the global markets. Exploiting shale gas in the USA has generated new jobs, has created a more competitive industry and has led to a significant drop in the price of energy.

Europe has important resources of shale gas in areas such as Poland, Romania and Bulgaria. I believe that Europe should not turn its back on such an opportunity and it should review the benefits and the drawbacks of exploiting shale gas. Sure, there are ancillary risks pertaining to such exploitation, but that's just how it is in with any other exploitation of natural resources. Europe must weigh on these risks, the environmental problems and the economic benefits. The good thing is that the technologies for exploiting shale gas have evolved considerably and environmental protection is very good".

The GE official said that in the US the shale natural gas has a price of approximately 100 dollars per cubic meters, whereas natural gas currently costs approximately 500 dollars per 1000 cubic meters in Central and Eastern Europe.

Hendrik Bourgeois considers that energy is an engine for growth in times of crisis for Romania, as well as for other countries in Central and Eastern Europe (CEE). He thinks that countries in the region must invest more in this area, in impr