Romania could begin exporting natural gas to Hungary as early as 2015, according to local news service Ziarul Financiar. Quoting unnamed sources from the country's natural gas supply operator Transgaz, Ziarul Financiar reports that Romania could meet the necessary technical requirements to pipe gas from Arad in Western Romania to Szeged in Hungary in three years time. There have, however, been no requests for gas exports to date, according to the local financial newspaper.

Plans to list 15 percent of Transgaz stock were recently shelved, with Economy Minister Daniel Chitoiu saying that due to poor market conditions, a capital increase would be attempted for the part state owned natural gas supply company. The Romanian state promised the International Monetary Fund that it would sell a 15 percent stake in the natural gas supply grid Transgaz. Originally planned for October, it was later agreed with the IMF that the 15 percent stake would be sold by the end of 2012.

Transgaz is also currently working on a EUR 24 million project to connect Romania's natural gas supply to Bulgaria. The move was a response to the gas supply crisis in the region during the extreme cold weather in early 2012 and the Ukrainian/Russian dispute that interrupted a vital supply route into Europe causing shortages. The EU decided that countries should have two sources of natural gas to prevent a repeat of the shortages. The new pipeline will connect Giurgiu and Ruse, passing under the Danube. The EU, the Bulgarian state and Transgaz will fund the project jointly.

Liam Lever, liam@romania-insider.com

(photo source: sxc.hu)