EBRD finances Romanian section of international pipeline

The European Bank for Reconstruction and Development (EBRD) will provide a EUR 60 million loan to Romanian gas transporter Transgaz for the construction of the Romanian section of the new gas pipeline between Romania, Bulgaria, Hungary and Austria, also known as BRUA. With a total length of 1,318 km, the pipeline will offer better interconnection between the countries along its route. It will also enable new links with major gas infrastructure projects such as the Southern Gas Corridor, through TAP and TANAP, other central European gas hubs and future offshore production sites in the Black Sea. The project will also ensure a greater integration of European gas markets and increase the security of supply, according to EBRD. The total project cost is EUR 479 million. In addition to the EBRD financing, Transgaz is investing EUR 149 million, the European Union is providing EUR 179 million in grants and the European Investment Bank (EIB) is contributing a EUR 50 million loan. The balance will be covered by other lenders. The EBRD supported 29 projects with EUR 546 million of debt and equity investments last year. editor@romania-insider.com