Carbon dioxide market in Romania

Earlier Report Observations

The carbon dioxide market in Romania from 2018 to 2020 was influenced by regulatory changes under the European Emissions Trading System (EU ETS). In 2018, amendments to the EU ETS directive created an Innovation Fund to finance CO₂ reduction technologies such as capture and storage, while an EU Regulation set binding national emission reduction targets for 2021‑2030. These measures established a framework for investments in CO₂ infrastructure. In 2019, the Romanian government adopted rules for the free allocation of emission allowances to mitigate carbon leakage risks. In 2020, the European Court of Auditors emphasized the need for a carbon border adjustment tariff, and the EU‑ETS updated its free allowance allocation to protect domestic industry. Market volume reached 7.4 million USD in 2019 but declined to 7 million USD in 2020.

A sharp market expansion to 9.8 million USD in 2021 coincided with the rising relevance of the EU's Carbon Border Adjustment Mechanism (CBAM), which increased costs for carbon‑intensive imports and stimulated local CO₂ capture and production. In 2022, new regulations for the geological storage of CO₂ were approved, accelerating the development of capture, transport and storage infrastructure. Major Romanian energy companies Petrom and Romgaz were listed among the top EU entities with CO₂ storage obligations, highlighting their central role in this segment. Simultaneously, national safety standards incorporated stricter labeling requirements for food‑grade carbon dioxide (E290). Despite these developments, market volume temporarily contracted to 9.1 million USD in 2022.

The market resumed growth in the following years, climbing to 10 million USD in 2023 and further to 11.2 million USD in 2024. This sustained upward trend reflects the ongoing impact of earlier regulatory drivers and the continued build‑out of CO₂ storage and handling infrastructure in the country.

Production carbon dioxide in Romania

In value, 2017-2020, K $ US

Romania's carbon dioxide production experienced a two-year growth period before declining. In 2020, the output was valued at 3 297 K $ US, marking a significant year-over-year decrease of 12.6%. Over the 2017-2020 period, production increased by 25.6%, with a compound annual growth rate of 7.9%. The peak value was recorded in 2019 at 3 774 K $ US, while the largest annual increase occurred in 2018 at 34.0%.

Annual dynamics of production in Romania in value, 2017-2020, K $ US

In kind, 2017-2020, t

Annual dynamics of production in Romania in kind, 2017-2020, t

Exports carbon dioxide from Romania

Exports in kind, t

The data shows irregular fluctuations, indicating a volatile market environment. Export volumes reached their lowest point in 2020 at 1 259 t, which represents a 66.8% decrease compared to the previous year. The peak was recorded in 2018 at 7 063 t, creating a 5.6-fold difference between these years. The largest annual increase occurred in 2018 at 89.0%.

Annual dynamics of product's exports from Romania in kind, 2017-2020, t

Between 2017 and 2020, Hungary (39.4% of exports in kind), Moldova (28.7% of exports in kind), and Italy (9.4% of exports in kind) were the primary destinations for Romania's carbon dioxide exports, collectively accounting for 77.5% of total export volumes.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Romania in kind, 2017-2020

Exports in value, K $ US

The market demonstrated volatility throughout the observed period. Export values reached their lowest point in 2020 at 437 K $ US, representing a 26.2% decrease from the previous year. The peak was recorded in 2018 at 920 K $ US, creating a 2.1-fold difference between these years. The largest annual decline occurred in 2019 at 35.7%, while the largest increase was recorded in 2018 at 85.9%.

Annual dynamics of product's exports from Romania in value, 2017-2020, K $ US

From 2017 to 2020, the leading destinations for Romania's carbon dioxide exports in value terms were Moldova (48.2% of exports in value terms), Hungary (21.6% of exports in value terms), and Italy (6.6% of exports in value terms), which together accounted for 76.4% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Romania in value, 2017-2020

Imports carbon dioxide to Romania

Imports in kind, t

Romania's carbon dioxide import volumes declined for the second consecutive year. In 2020, imports amounted to 45 412 t, showing a substantial decrease of 11.9% compared to the previous year. The peak volume was recorded in 2018 at 52 424 t, while the largest annual increase occurred in 2018 at 15.4%.

Annual dynamics of product's imports to Romania in kind, 2017-2020, t

Throughout the 2017-2020 period, Serbia (62.5% of imports in kind), Bulgaria (14.7% of imports in kind), and Austria (8.5% of imports in kind) formed the core sources for Romania's carbon dioxide imports, collectively representing 85.7% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Romania in kind, 2017-2020

Imports in value, K $ US

Romania's carbon dioxide import values declined for the second consecutive year. In 2020, imports amounted to 4 145 K $ US, showing a modest decrease of 2.7% compared to the previous year. Between 2017 and 2020, imports increased by 12.9%, equating to an annualized growth rate of 4.1%. The peak value was recorded in 2018 at 4 377 K $ US, while the largest annual decline occurred in 2019 at 2.7% and the largest increase was recorded in 2018 at 19.3%.

Annual dynamics of product's imports to Romania in value, 2017-2020, K $ US

From 2017 to 2020, Serbia (50.6% of imports in value terms), Bulgaria (21.8% of imports in value terms), and Hungary (5.3% of imports in value terms) remained the primary sources for Romania's carbon dioxide imports in value terms, collectively accounting for 77.7% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Romania in value, 2017-2020