The European Bank for Reconstruction and Development (EBRD) will finance and support the investment program of Romanian state-controlled gas transport system operator Transgaz, according to a memorandum of understanding signed on Wednesday, March 4, Energy Industry Review reported.

The EBRD will take into account the participation in the financing of the project by supplying debt or equity instruments depending on the situation, based on the company’s needs.

Transgaz has a ten-year network development plan that will require investments of EUR 1.25 billion.

Transgaz and EBRD have a successful cooperation relation for the financing of the BRUA project.

The objectives of Transgaz’ Investment Program include the extension, upgrading and replacement of the domestic gas transport network in Romania in order to increase the accessibility of the end users to the gas networks, improve the security of gas supply, and diversify energy sources.

The Investment Program also aims to develop the interconnection of gas networks so as to improve the security of supply and to diversify gas sources in the entire region.

The research and development projects for developing “greener” gas technologies is a third objective of the Investment Program.

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editor@romania-insider.com