Romania's Transgaz gets EUR 138 mln loans from EIB for key pipeline projects

Romania’s natural gas transport company Transgaz announced on January 25 that it sealed the documents for a EUR 100 million loan from the European Investment Bank (EIB) for bringing Black Sea offshore gas to the BRUA (Bulgaria-Romania-Hungary-

Austria) pipeline and the national gas system. The company called this a symbolic moment for the country’s European destiny. This was the second tranche of a EUR 150 million loan from the EIB dedicated to transporting Romania’s Black Sea offshore gas. EIB also extended a EUR 38 million loan to Transgaz for the construction of the Ungheni-Chisinau pipeline in the Republic of Moldova, a project that would allow Romanian gas to be delivered to Moldova’s industrialized area around the capital city. Last year, Transgaz took over Vestmoldtransgaz, a company set up by the Moldovan authorities for completing the project. Nonetheless, the company faces major problems in finding a contractor for the pipeline construction. In January, e-nergia.ro announced that the project began, but Transgaz contracted only the construction of the buildings at the two ends of the pipeline, while it was still seeking a contractor for the pipeline itself. The pipeline stretches over 146 km and is estimated to cost some EUR 70 million. EIB lends Romania’s Transgaz another EUR 50 mln for pipelines editor@romania-insider.com (photo source: Transgaz.ro)