Romania's state-controlled natural gas transport system operator Transgaz (TGN) summoned its shareholders on January 25 to endorse setting set up an investment vehicle aimed at developing "hydrogen-ready / low-carbon infrastructure projects".

For this purpose, Transgaz and the Investment Fund of the Three Seas Initiative (I3M) will set up a company registered in Romania, in which TGN will have 51% of the shares. The Fund will have the rest of the shares and will contribute to the financing of the projects, estimated at EUR 626 mln, say the reports prepared for the shareholders. The investment vehicle thus formed will sell the projects developed to Transgaz.

Transgaz shareholders will also decide on joining the European Hydrogen Backbone (EHB) group, made up of 23 natural gas transmission companies from the mainland, which are jointly planning a pan-European hydrogen transport infrastructure. The EHB membership guarantees Transgaz "will have a place at the table of discussions on the future European hydrogen network, obtaining valuable information about the plans of other TSOs (transmission system operator),” as well as "best strategic and operational practices on hydrogen transport through pipelines".

EHB membership "can increase Transgaz's recognition at European level and help guide policy and regulatory discussions on hydrogen (transport) in favour of society".

editor@romania-insider.com

(Photo source: Inquam Photos / George Calin)