EIB lends Romania’s Transgaz another EUR 50 mln for pipelines

The European Investment Bank (EIB) on December 17 announced a EUR 50 million loan to Romania’s public gas transmission company Transgaz, to finance a new pipeline. This is the first tranche of an approved loan of EUR 150 million. The transaction is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, or "Juncker Plan". 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. editor@romania-insider.com (photo source: Transgaz.ro)