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BLACK SEA OIL AND GAS

October 2019   |   Black Sea region

EU grants Transgaz €46 mln to upgrade its gas system

Posted by GBC on 05-10-2018

Romania’s state-owned gas transmission system operator Transgaz has received a €46 million ($53 million) grant from the EU to upgrade the gas network in the northeastern part of the country, a spokesperson from the Romanian Ministry for the Economy told Interfax Natural Gas Daily.

The grant was made under the EU’s Large Infrastructure Operational Programme. The EU grant will cover about 30% of the total cost of the upgrade work, which is estimated at €174.3 million.

A delegation from Transgaz will take part in the Black Sea Oil & Gas conference in Bucharest as well as representatives from the European Commission. Ciprian Alic, Director, European Funds and International Relations will attend and participate the panel discussion on 23rd of October. The discussion will be focused specifically on challenges stagnating the industry growth. Together with Transgaz  representatives from Romgaz, Mazarine Energy and NAMR (National Agency for Mineral Resources of Romania) will discuss with conference delegates what steps should be taken to guarantee investment security

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