Transgaz wants to partner with the Investment Fund of the Three Seas Initiative in order to attract funding of up to 626 million euro for the development of infrastructure projects for the transport of a mix of natural gas and hydrogen, according to zf.ro.

Thus, the shareholders of Transgaz (stock exchange symbol TGN), the technical operator that transports 90% of the natural gas consumed in Romania, approved on Tuesday, February 25 the conclusion of a legal advice contract to analyze and negotiate the legal, financial and commercial conditions for association with the Fund of Investments of the Three Seas Initiative in order to attract cumulative financing of up to 626 million euros for the development of infrastructure projects for the transport of a mix of natural gas and hydrogen.

The estimated value of the legal advice contract is of 150,000 euros.

On the other hand, the shareholders of the state-owned company approved the accession of Transgaz to the European Hydrogen Backbone (EHB) group.

Transgaz ended the first nine months of 2021 with a net profit of 112 million lei, down 45%, and operating income of 954 million lei, 5% lower than in the same period in 2020, the data show from the quarterly report published on BVB.