Memoranda for Eastring pipeline closer to enactment
Vahram Chuguryan, spokesman for Eustream, the Slovak natural gas transmission company, said the memoranda of understanding with the countries through which the Eastring pipeline would pass (Hungary, Romania and Bulgaria) could be signed soon, TASR agency informed. “These documents should contain parameters based on their future participation to this project,” said Chuguryan, adding that Eustream has negotiated and continues to negotiate with all Eastring project potential partners, investors and state officials. The Slovak Government intends to actively support the Eastring project.
According to Eustream general manager, Rastislav Ňukovič, the funding for Eastring depends on three main sources. “First of all it is a consortium of companies from the involved countries - Slovakia, Bulgaria, Romania and Hungary. The second source of funding could be the European Union, given that the project observes the design and meets the challenges of the European Commission. The third source of funding could be commercial banks or the European Investment Bank,” Ňukovič said.
Eastring pipeline is expected to have a length between 744 km and 1,015 km, depending on the final route, and to have a capacity of up to 20 billion cubic meters per year. The estimated cost of the project is EUR 1.3 billion and could become operational in late 2018. Romania would have a key role in the Eastring project, given that most of the pipeline is expected to be pass through its territory.