Romgaz and Transgaz to apply for EC co-financing

Natural Gas Transport Pipeline

The Romanian energy companies having the state as majority shareholder have requested funds amounting to EUR 3.5 billion from the European Commission to co-finance strategic projects. The projects were included on the list of 200 projects the Romanian government has sent to Brussels in view of accessing public funds through the ‘Investment Offensive’ European facility. The companies in the gas field, Transgaz and Romgaz, have requested EUR 600 million co-financing. Transgaz submitted projects amounting to EUR 1.47 billion and requested EUR 261.7 million co-financing for:

  • Building of the southern corridor for natural gas to connect the transportation grids of Austria, Hungary, Romania and Bulgaria. In Romania 545 km of new pipelines would be built along with three compression stations that would ensure flows of up to 1.5 billion cubic metres of natural gas to Bulgaria and 4.4 billion cubic metres to Hungary; value of the project – EUR 560 million, co-financing – EUR 168 million;
  • Connecting the domestic network to the Black Sea exploitations through the 247 km pipeline from Tuzla, Constanta County, to Podisor, Giurgiu County; the value of the project – EUR 254 million, co-financing – EUR 38 million;
  • Building an alternative route to connect the exploitations in the Black Sea, which would use the existing pipelines, as long as they are still working, and to modernize or replace the old ones. The same project includes four new compression stations; value of the project – EUR 550 million by complete co-financing;
  • Consolidating the natural gas transport grid in Moldavia region by building 800 km of new pipelines and two compression stations in Onesti and Gheraiesti; value of the project – EUR 110 million, co-financing – EUR 55 million;
  • To ensure the natural gas reverse flow at Mediesu Aurit, Satu Mare County, as the transport system is connected to the Ukrainian network; value of the project – EUR 0.7 million, complete co-financing. In its turn, Romgaz is looking for European co-financing of up to EUR 340 million for its projects evaluated to EUR 440 million:
  • To modernize the Iernut thermo-electric power station in exchange for calling off the debts of RON 653 million of Electrocentrale Bucharest. Romgaz aims at building two co-generating groups of 200 MW each; value of the project – EUR 300 million, co-financing – EUR 200 million;
  • To extend the natural gas tank at Ghercesti from 150 million cubic metres per cycle to 600 million cubic metres per cycle. Value of the project – EUR 140 million, complete co-financing.

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December/January 2015

June 2017