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EIB is lending 50 million Euro to Transgaz for a new European gas transmission corridor

The European Investment Bank (EIB) is lending 50 million Euro to Transgaz, the national gas transmission company of Romania, to finance the construction of a new European gas transmission corridor to increase security of gas supply and to reduce energy dependence by making it possible to diversify gas supply routes and sources.

2017-10-27 13:44:44

This operation is backed by the European Fund for Strategic Investments (EFSI) under the Investment Plan for Europe (IPE).

The new pipeline represents the first phase of the Romanian section of the gas pipeline from Bulgaria to Austria via Romania and Hungary (BRUA). The Transgaz-BRUA Gas Interconnection project, estimated to cost over 500 million Euro, has been awarded a grant of 179 million Euro by the European Commission.

The EIB funds will finance the construction of a 478-km natural gas transmission pipeline between Podisor and Recas and the construction of three compressor stations located in Podisor, Bibesti and Jupa in Romania.



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