The operator of Romania’s natural gas transmission system, Transgaz, wants to partner with the Investment Fund of the Three Seas Initiative (FII3M), a structure that includes the export-import bank of the Romanian state, Eximbank, for the development of projects of low-carbon hydrogen gas mix infrastructure, the cumulative value of which can reach over 620 million euros, according to Profit.ro.

Thus, it is envisaged to set up a joint stock company with a registered office in Romania, in which Transgaz will hold 51% of the capital, and FII3M – the remaining 49%, according to data analyzed by Profit.ro.

The newly established company would thus develop one or more projects related to the transport of hydrogen through pipelines, which after completion would be sold to Transgaz at a price that would allow the joint venture “to cover its development costs and generate a pre-determined return” for its associates. The projects will require a cumulative funding of up to 626 million euro, which would be provided both by Transgaz and FII3M from own resources and from financial institutions.