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Transgaz gets 150 million Euro from EIB for new gas pipeline

The European Investment Bank (EIB) is lending 50 million Euro - the first tranche of an approved loan of 150 million Euro - to Transgaz, Romania's public gas transmission company, to finance a new pipeline.

2018-12-18 14:11:28

The new pipeline will link Romania's natural gas resources on the Black Sea shore with both the national gas transmission network and the BRUA gas transmission corridor (linking Bulgaria, Romania, Hungary and Austria), thus connecting the transmission systems of South-East Europe and Central and Western Europe. This connection to the European gas transmission grid will allow gas exports to neighboring European countries.

This project involves the construction of a new 308 km-long transmission pipeline, along with the associated above-ground infrastructure. The new pipeline will be connected to the existing gas transmission system and the new BRUA transmission corridor in Podisor, located at the west of Bucharest.

As part of the project, the EIB, via the European Investment Advisory Hub, which is the advisory pillar of the Juncker Plan, will support Transgaz in drafting a Strategic Environmental Assessment for its 10-year Development Plan.

This project represents a continuation of the fruitful cooperation between the EU bank and Transgaz. Earlier in 2017, the EIB signed two contracts with Transgaz - for 50 million Euro each - also receiving EFSI guarantees for financing the first phase of the Romanian sections of the BRUA project.



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