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Bucharest
March 2, 2021
BUSINESS

Romania negotiates with EIB to secure funds for Nabucco

The Romanian government has started initial talks with the European Investment Bank (EIB) in order to receive funds for state-owned natural gas grid operator Transgaz to help build the Nabucco Pipeline, Mediafax informs, quoting Bloomberg. “It’s too early to discuss details of the possible financing aid, but I can say we have started discussions with the government about this”, Millena Messori, head of the EIB office in Bucharest, said for Bloomberg. The Raiffeisen Bank International officials said on June 8 that Transgaz will have to contribute as much as RON 50 M (USD 16.9 M) to Nabucco this year to cover operating and pipeline expenses and another RON 30 M next year. Nabucco is intended to transport natural gas through Europe from the Caspian region. The Nabucco venture decided in May to postpone the start of construction until 2013. The pipeline, a joint venture of Transgaz, Germany’s RWE, Vienna-based OMV, Budapest-based Mol Nyrt., Bulgargaz EAD and Ankara-based Boru Hatlari ile Petrol Tasima AS, is designed to carry gas more than 3,900 kilometers (2,400 miles) from Turkey to Austria to reduce European dependence on Russia.

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