Transgaz signed the financing contract with the Ministry of European Funds for the development of the national gas transmission system in the northeastern part of Romania. The EUR 152 million investment, of which EUR 46 million comes from European funds, will increase the export capacity of natural gas to the Republic of Moldova.

Also, once the scheduled workings are done, the natural gas supply of this region will be improved.

General Manager of Transgaz Ion Sterian referred to the main projects the company manages at present: the construction of BRUA gas pipeline, SNT development in the northeast of Romania and the Ungheni-Chisinau gas pipeline project. “We are on the right rack with all these strategic initiatives and we have the administrative capacity to complete them”. The official highlighted that Transgaz managed to attract European funding worth about 250 million euros over the past two years.

The financing agreement was signed with the occasion of the joint meeting of the Governments of Romania and the Republic of Moldova. “Romania’s relationship with the Republic of Moldova is a firm and assumed political priority,” declared the Minister of Economy, who said that this investment will make it possible to capitalize on the potential of Romania’s natural gas resources, simultaneously with strengthening the natural gas transport capacity between Romania and the Republic of Moldova: between 1.5 and 2.2 billion cubic meters per year.