EBRD becomes shareholder in pipe to bring Romanian gas to Moldova
The European Bank for Reconstruction and Development (EBRD) has acquired a 25% stake in a pipeline that will bring Romanian gas to Moldova's capital of Chisinau, the project's Romanian operator Transgaz said on August 25.
The EU lender has obtained a 25% interest in Vestmoldtransgaz, the Transgaz subsidiary that operates the Ungheni-Chisinau pipeline that runs from the Romanian border to Chisinau. It paid €20mn ($24mn) for the interest.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
The Ungheni-Chisinau pipeline was commissioned in August last year, providing Moldova, a country nearly totally reliant on Russia for its gas deliveries, with an alternative supply option.
Extending for 120 km, the Ungheni-Chisinau pipeline connects at the Romanian border with the 43-km Iasi-Ungheni pipeline that was put into operation in 2014. The EU played a key role in financing both projects.