European Union to allot Transgaz 179 million Euro for the Bulgaria-Romania-Hungary-Austria pipeline construction

In late January, the European Union (EU) allocated 179.3 million Euro for the development of the Romanian section of a gas pipeline between Bulgaria and Austria, which will transit Romania and Hungary

2016-02-07 16:40:09 - From the Print Edition

The value of energy infrastructure projects of 217 million Euro has been approved, most in Central and Eastern Europe. The Romanian company which requested funding from EU for the Romanian section of the interconnector between Bulgaria and Austria is Transgaz, the Romanian-based company for natural gas transportation. "We aim for those European regions which need it most," said the representatives of the European Commission by a press release, quoted by Mediafax. "With this funding, we will help to assure the supply and integration of the European energy market by connecting networks across Europe. We must continue to modernize the energy networks in order to bring in any country still isolated from the European energy market."
The project is part of one of the 15 projects approved by the member states, following a call for proposals under the Connecting European Facility (CEF), a programme for European financing of energy infrastructure. Among these selected projects, nine are in the gas sector and have a financial aid of 207 million Euro and six are in the electricity sector with an aid of ten million Euro. The CEF, in 2014-2020, allocated a total of 5.35 billion Euro for trans-European energy infrastructure.
Moreover, the interconnector that links the gas networks of Romania, Bulgaria, Austria and Hungary will also receive funding which will allow the gas from the Caspian region and from other possible suppliers, including liquefied natural gas, to reach Central Europe.