Romanian President Traian Basescu said on Tuesday he was considering the establishment of a joint energy system including Romania, Hungary and Austria, considering Romania’s links with OMV, the Austrian company that holds the majority stake in Romanian oil major Petrom.

“While OMV were not a strategic partner, they have now become one”, he said at a conference on “Energy in Central and Eastern Europe”.

The contract that had OMV take the position of majority stakeholder in Petrom is to be analyzed by the Romanian Supreme Defense Council on Wednesday, as it has become the subject of controversies related to certain provisions blamed for spiraling energy prices.

During the conference, Basescu spoke of how the natural gas prices is established these days: “you very well know that the prices Gazprom is currently applying to various importing countries vary from 120 to 300 euro per 1000 cubic meters.

“The discrepancies and intermediate levels are very hard to understand. What is the way prices are set? Is it a political decision or is it how the market works?... There is an obvious political component to prices…”