Transgaz, the operator of the national natural gas transportation system, signed a syndicated loan contract in the total amount of 1.93 billion lei to ensure the financing of the investment projects included in its Development Plan.

According to a press release sent by Transgaz to the Bucharest Stock Exchange, UniCredit Bank coordinated the syndicated loan as Principal Mandated Arranger, Coordinator, Bookrunner, Lender, Documentation and Payment Agent and Facility Agent. The banks participating in the transaction, as Principal Arrangers, are: Banca Transilvania, Banca Comercială Română, Raiffeisen Bank, UniCredit Bank and CEC Bank.

“We have always been concerned with ensuring a competitive financing mix for financing the investment program so that we can achieve the best results, the best performances. The purpose of the syndicated loan is to ensure the financing/refinancing of the expenses related to the strategic investment projects included in The Natural Gas National Transport System Development Plan (NTS) approved by ANRE, strategic investments supported by the Government of Romania and intended to contribute in a real way to the achievement of the objectives of sustainable and competitive development of the gas transport infrastructure, to ensuring and strengthening security and national, regional and European energy solidarity,” said Ion Sterian, general manager of Transgaz.

The source of financing contracted together with other sources of financing available to Transgaz will be used both for strategic investment projects included in the Development Plan of SNT and projects that allow the connection to the natural gas transport system of the localities on the territory of Romania, he stated.

Sterian showed, in the context, that it is of strategic importance that the natural gas extracted from the Black Sea be transported through the NTS on the Romanian and European market, in order to increase the security of natural gas supply in Romania and the EU and to guarantee the natural gas supply of domestic and regional consumers, according to Agerpres.

“Among these projects I mention: Tuzla-Podisor gas pipeline, BRUA phase II, Ghercesti – Jitaru natural gas pipelines; Prunişor – Orşova – Băile Herculane – Jupa; DN 600 Mihai Bravu-Siliştea natural gas pipeline and transformation into a godable pipeline; The supply of natural gas to the Mintia cogeneration plant, the increase of the transmission capacity of the SNT and the security of the supply of natural gas to the Işalnița Branch and the Turceni Branch the transport of gases intended for newly established natural gas distribution systems and the supply of new connected consumers, for the modernization and retechnology of SNT, investments that it supports from its own funds”, added the general manager of the company.

Also Raluca Popescu, executive vice-president of Corporate UniCredit Bank, added that Transgaz is one of the most important companies in the national energy sector and occupies the fourth position in the top of natural gas transport and system operators in the European Union, according to the length of the infrastructure managed transport.

“Transgaz S.A. is today one of the most important companies in the national energy sector, it is the only operator of the National Natural Gas Transport System in Romania and occupies the fourth position in the top of the natural gas transport and system operators in the European Union, according to the

length of the infrastructure of managed transport. It is a company listed on the stock exchange and has implemented the corporate governance system, which increases our confidence in the ability of the company’s management to effectively implement the national strategy in the field of domestic and international natural gas transport,” Raluca Popescu said.

Bogdan Cernescu, executive director of Corporate Banking, BCR, also stated that this syndicated financing demonstrates Transgaz’s ability to carry out important projects with multiple benefits.

“We support major infrastructure projects, which strengthen Romania’s energy security and strategic role in the region. And this syndicated financing demonstrates Transgaz’s ability to carry out important projects with multiple benefits. From increasing end-user access to the gas network, to improving safety in the supply and development of the interconnection of gas networks. All these are essential components for energy stability and reliability, both locally and Europeanly,” said Bogdan Cernescu.