Transgaz (BVB: TGN), the Romanian natural gas system and transport operator, majority owned by the Romanian state, signed the EUR 93.5 million financing contracts under the Modernisation Fund for two investment projects: the Black Sea - Podisor transport pipeline and the Ghercești-Jitaru pipeline.

Out of the total, EUR 85.5 million is allocated for the Black Sea – Podisor pipeline and EUR 8 million to the Ghercești -Jitaru transport pipeline, Profit.ro reported.

The two projects contribute to ensuring energy security on a European and national level by strengthening the natural gas transport infrastructure, ensuring additional transport volumes, as well as diversifying energy sources by transporting the natural gas extracted from ​​the Black Sea.

The Black Sea Shore – Podișor Gas pipeline is located in the southeastern area of Romania. Its route goes from southeast towards west, crossing the Romanian counties of Constanta, Calarasi and Giurgiu. Plans show it connecting with the BRUA Gas Pipeline in Podisor.

In June 2023, Transgaz awarded a construction contract for the pipeline to Türkiye-based Kalyon Insaat Sanayi Ve Ticaret, after Transgaz, OMV Petrom, and Romgaz booked capacity on the pipeline earlier that year.

iulian@romania-insider.com

(Photo source: Inquam Photos/George Calin)