COMPANIES ECONOMY ENERGY

Transelectrica, Transgaz sign cooperation agreements with Vietnamese energy companies

Romania’s national electricity grid operator Translectrica and national natural gas transmission operator Transgaz have signed memoranda of understanding in Vietnam concerning future cooperation in areas of mutual interest.

The Romanian Ministry of Economy says in a press statement that officials of the two companies were part of a business retinue that accompanied Prime Minister Dacian Ciolos on an official visit to Vietnam, July 11-14.

Transelectrica and VietNam Electricity signed a memorandum of understanding concerning cooperation and development of relations between Romania and Vietnam in electricity.

Under the memorandum, valid 2016 – 2019 and extendable, the two parties agreed to provide each other consultancy services in specific areas; exploring for and drawing up joint energy projects under mutually agreed legal frameworks; know-how transfer and training in areas of interest; joint initiatives in cooperation areas of shared interest; joint participation in international projects including infrastructure development master plans, consultancy, design, construction and assembly.

Transgaz and PVGASCITY JSC signed a cooperation agreement voicing their intention and commitment to provide joint support to mutually advantageous projects and open new cooperation avenues in the field of natural gas transmission.

The document spells out basic principles, responsibilities and the framework for coordinating the activities to be developed between the two companies, while paving the way for ulterior cooperation.

The signatories also agreed on one-year cooperation under a market survey after identifying a set of measures regarding priority aspects and the definition of strategic visions.

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