The U.S. Trade and Development Agency (USTDA) awarded on Thursday a $956,000 grant to support Transgaz S.A.’s Pipeline Expansion Project. The grant funds a feasibility study to improve and confirm the technical design and economic and financial specifications for constructing the Romanian section of the Bulgaria-Romania-Hungary-Austria Connector (BHRA) and the Black Sea-Shore-Podisor Connector gas pipeline projects.
The grant was signed at the U.S. Embassy in Bucharest by U.S. Ambassador to Romania Hans Klemm (L) and Transgaz S.A. Director General Petru Ion Vaduva. Also present at the grant signing were the Minister of Economy, Mihai Tudose; the Minister of Energy, Andrei Dominic Gerea; Ambassador Mihnea Constantinescu, Special Representative for Energy Security; and U.S. Deputy Chief of Mission Dean Thompson.
“The proposed upgrades to the Romanian National Transmission Network, evaluated by this study, will facilitate increased bilateral trade and support energy security throughout the region,” said Ambassador Klemm. Director General Petru Vaduva said, “Transgaz believes that this study will be instrumental in providing comfort to all market participants that the integration of the Romanian National Network with neighboring countries will soon become a reality. This integration will establish the much-needed connection between Southern and Central Europe, while ensuring the security of supply and transparency of pricing in the region.”
According to a press release of the U.S. Embassy, the projects are a critical piece necessary to increase pipeline capacity and upgrade the gas transmission network’s operating pressure, and ultimately energy security in the region. Through the modernization and construction of the new pipelines, Transgaz intends to distribute anticipated new gas resources from the Black Sea, as well as conduct bi-directional gas trade with neighboring countries.
Ponta: EBRD is one of the biggest institutional investors in Romania
‘The European Bank for Reconstruction and Development is one of the biggest institutional investors in Romania (approximately EUR 7 bn invested in over 370 projects so far) and has fulfilled a crucial role in the process of transition of this country to a functioning market economy after the Revolution. We want the same commitment to continue on multiple levels!’ Ponta states on Facebook on Thursday. ‘Today, we presented at the EBRD headquarters in London several priority projects in the sectors of transport, energy and public works, with a major impact on the regional development and infrastructure in Romania’, he also says.