BAKU, Azerbaijan, March 4
By Leman Zeynalova - Trend:
Romania’s SNTGN Transgaz SA has signed a Memorandum of Understanding with the European Bank for Reconstruction and Development (EBRD) on cooperation and support for Transgaz’ Investment Program, Trend reports citing the company.
Based on Transgaz’ needs, EBRD will take into account the participation in the financing of the project by supplying debt or equity instruments depending on the situation.
The objectives and/or scope of the Investment program are the extension, upgrading and replacement of the domestic Romanian network in order to increase the accessibility of the end users to the gas networks, to improve the security of gas supply and to diversify energy sources; to cooperate for the development of the interconnection of gas networks so as to improve the security of supply and to diversify gas sources in the entire region; to collaborate in research and development projects for the ‘gas greening’ in order to ensure the transition to cleaner gas.
Transgaz has a Ten Year Network Development Plan in which the FID (Final Investment Decision) and A-FID (Advance Final Investment Decision) projects are in the total amount of 1.25 billion euro. Transgaz and EBRD have a successful cooperation relation for the financing of the BRUA project. EBRD has granted Transgaz a loan amounting to RON 278 million for such project. At the same time, Transgaz and EBRD were partners in the attempt to procure a stake in the Hellenic transmission system operator DESFA. EBRD and its subsidiary Vestmoldtransgaz collaborate for the project Ungheni – Chisinau in terms of environmental and social related aspects making sure of the compliance with the highest standards in the implementation of this project.
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