-0.7 C
Belgrade
Supported byspot_img
spot_img

EU to fund Romania Transgaz gas interconnections with Bulgaria and Hungary

Member of Europium Groupspot_img
Supported byspot_img

EU will fund the Romanian Transgaz 179MEUR interconnection projects with Bulgaria, Hungary, Austria.

The European Commission said it will grant Romanian gas transmission company Transgaz [BSE:TGN] 179 million euro in support of the development of an interconnector linking the gas networks of Bulgaria, Romania, Hungary and Austria.

“This is an important development for the EU gas market as this will allow gas from the Caspian region and other potential sources, including liquefied natural gas (LNG), to reach Central Europe,” the Commission said in a press release.

Supported by

The project envisages the development of a natural gas transmission network with a total length of 550 km and a capacity of 1.5 billion cubic metres per year toward Bulgaria and 4.4 billion cubic metres per year toward Hungary. Its due for completion in 2019 and its cost is estimated at 560 million euro ($610 million), data from Transgaz website showed.

The EU financing is part of a 217 million euro package in support of key trans-European energy infrastructure projects, mainly in Central and Southeastern Europe. In total, 15 projects were selected following a call for proposals under the Connecting Europe Facility (CEF), an EU funding programme for infrastructure. The selected projects will increase energy security and help end the isolation of member states from EU-wide energy networks, while contributing to the completion of a European energy market and the integration of renewables into the electricity grid, the Commission said in a press release.

Supported byElevatePR Digital

Related News

Important Announcement to Our Readers

After years of dedicated efforts to promote the European mining industry and foster a balanced approach between environmental conservation and the responsible exploitation of...

India set to decide on import restrictions for metallurgical coke

India is set to make a decision soon on whether to implement import restrictions on metallurgical coke, a crucial ingredient in steelmaking. According to...

AMMC targets major production milestones by 2030 with ongoing development projects

Almalyk Mining and Metallurgical Combine (AMMC) has set ambitious production goals for 2030, aiming to achieve annual output of 500,000 tons of copper, 50...

Kazatomprom partners with Jordan uranium mining company on joint uranium exploration and extraction

Kazatomprom, Kazakhstan's national atomic company, has entered into a collaboration with Jordan Uranium Mining Company (JUMCO) to jointly explore and extract uranium in Jordan....
Supported by
Supported by
Supported by
error: Content is protected !!