Transgaz and the EBRD (European Bank for Reconstruction and Development) signed a memorandum of understanding on cooperation and support for Transgaz’s investment program, on Wednesday.

Based on the document, the EBRD will consider participating in the financing of Transgaz projects by providing loan instruments or participations.

The objectives of Transgaz include the expansion, modernization and replacement of the Romanian domestic network, in order to increase the accessibility of the end users to the gas networks, to improve the security of supply and to diversify the energy sources; collaboration for the development of the interconnection of natural gas networks, with the aim of improving security of supply and diversification of gas sources throughout the region and cooperation in research and development projects for “greening of gas” to move to cleaner gas systems.

Transgaz has a ten-year development plan in which the FID (Final Investment Decision) and A-FID (Advance Final Investment Decision) projects total EUR 1.25 billion. There is successful cooperation between Transgaz and the EBRD in financing the BRUA project. EBRD granted Transgaz a loan of RON 278 million for this project.