Transgaz to borrow EUR 100 million from the EIB for the transport of natural gas from the Black Sea

By Jerom Bolt
SNTGN Transgaz SA and the European Investment Bank (EIB) on Thursday signed in Luxembourg the 100 million euros worth loan agreement representing the second tranche of the loan approved for Transgaz, worth 150 million euros, reads a release of the company published on Friday on the BVB website.
The first tranche of the loan agreement worth 50 million euros was signed on December 17, 2018.
The EIB granted 150 million euros for the financing of a new 308.2-kilometer long transmission pipeline, to link the natural gas resources of Romania from the Black Sea shore with both the national gas transmission network and the BRUA corridor (Tuzla-Podisor pipeline), linking thus the natural gas transmission systems in South-Eastern, Central and Western Europe.
This financing is supported by the European Strategic Investments Fund (EFSI), the financial pillar of the Investment Plan for Europe (‘The Juncker Plan’).
The Transgaz General Manager, Ion Sterian, and the EIB Vice President, Andrew McDowell, also signed in Luxembourg the loan agreement worth 38 million euros by which the EIB grants financing to Eurotransgaz SRL, the Transgaz branch in the Republic of Moldova, in order to finance Vestmoldtransgaz SRL for the Ungheni-Chisinau interconnection project.
The project concerns building a new natural gas transmission pipeline between Ungheni and Chisinau.
The Ungheni-Chisinau natural gas transmission network represents the 2nd phase of the Iasi-Ungheni-Chisinau interconnection project.
Participating in the event in Luxembourg were also Lilian Zamfiroiu, the Extraordinary and Plenipotentiary Ambassador of Romania to the Grand Duchy of Luxembourg, and Marius-Danut Carasol, General Manager of CNEE Transelectrica SA.