Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. EIB and Transgaz sign agreement to develop decarbonisation...

EIB and Transgaz sign agreement to develop decarbonisation strategy for Romania’s gas network

May 26, 2022

  The European Investment Bank (EIB) and Transgaz have signed an agreement for the provision of advisory services to prepare and develop a decarbonisation strategy for Romania’s gas network.   Transgaz is a key player in the Romanian energy system, securing the access to affordable and clean energy for Romanian citizens and companies.   The technical assistance package delivered by EIB and external experts within the context of the European Investment Advisory Hub (EIAH), will include the preparation and development of a decarbonisation strategy for Transgaz to gradually transition to climate neutral activities.    The development of the decarbonization strategy at Transgaz level, based on a consultative agreement with the European Investment Bank (EIB), is an approach that is part of the Government's objectives for the transition to a green economy, as well as an example of good practice, Prime Minister Nicolae Ciuca said on Monday.He participated, at the Victoria Governmental Palace, in the signing ceremony of the agreement between the National Natural Gas Transport Company Transgaz SA and the European Investment Bank regarding the provision of consultancy services in order to develop the decarbonization strategy."I congratulate all those involved in the preparation of the signing of this agreement between the European Investment Bank and the Transgaz National Company for the development of the decarbonization strategy. It is an approach that is in line with the objectives and the level of ambition of the Government for the transition to a green economy. It is very important for me to emphasize that this is an example of good practice and I encourage all institutions, all companies to follow this example. Practically, through this approach, we also fulfill the objectives that we have assumed under PNRR [the National Recovery and Resilience Plan], so that we can maintain this balance between reforms and investments and, finally, make this transition to the green economy take place," said Ciuca.The Prime Minister highlighted the full support given to Romania by the European Investment Bank, mentioning, among other things, the projects carried out in the fields of health and education."Today we spoke with EIB Vice-President Christian Kettel Thomsen, reviewing some of the projects in which the European Investment Bank has been involved. Regarding the projects for the construction of the hospital infrastructure, we discussed the three hospitals and together we commit ourselves so that these projects can be started as soon as possible. Also, the support that the European Investment Bank provided to the Ministry of Education, financing a whole series of projects in Romanian universities. And, of course, support for young people from low-income families. It is an experience that gives us confidence that we can continue hereon to identify the opportunities created by the security situation we are in, with the specifics of the border countries of Ukraine, and, of course, the other opportunities through which we seek to secure our energy sources and the energy independence from Russia," Nicolae Ciuca transmitted.Alongside the Prime Minister, on behalf of the Government, the event was attended by the Minister of Finance, Adrian Caciu, the Minister of Energy, Virgil Popescu, and the Secretary General of the Executive, Marian Neacsu.The agreement was signed by EIB Vice President Christian Kettel Thomsen and Transgaz CEO Ion Sterian.    EIB experts will work alongside Transgaz staff to analyse the status of Romania’s gas network as well as its GHG emission inventory and climate vulnerability policies. The strategy will include measures to help reduce emissions within the network, as well as adaptation criteria to mitigate climate risks, highlighting investment needs and relevant financing sources where relevant.  

Read in full - click here
Romanian Energy Ministry says OMV Petrom sale of Neptun Deep gas has minor impact

The Romanian Ministry of Energy announced that the volume of natural gas exported from the Neptun Deep perimeter to Germany, under a contract previously reported by media, will represent less than 1% of the total estimated production of the Black Sea field, which has estimated reserves of over 100 billion cubic meters of natural gas, […]

ANIS: fewer new contracts, layoffs, fiscal instability for Romania's IT industry in 2024

For the Romanian IT companies, an important sector in the local economy, 2024 meant fewer new contracts, a much longer time needed to attract new business, increased labor costs amid legislative changes, and an unfavorable global context, according to a report filed at the end of last year by the management of the Employers' Association […]

German group Schieffer builds factory in Romania

German company Schieffer Industries will build a plastic components factory for the automotive industry on a plot of land at the entrance to the municipality of Hunedoara in Romania.  Works on this investment are expected to be completed in the fall of this year so that production can start at the end of 2025, the […]

Romania reportedly seeks to return as majority shareholder at utility group Electrica

The Romanian state would consider the option of returning as a majority shareholder of utility group Electrica (BVB: EL) again and is analyzing ways to do this, sources told Economedia.ro. "It's a working scenario," other sources told Economedia.ro. Currently, Electrica is a listed company on the Bucharest...

Dacia Bigster now available for order in Romania starting at EUR 23,000

Local carmaker Dacia has officially launched its Bigster model for orders in Romania on January 9, with prices starting at EUR 23,000 (VAT included) for the Essential version. The price goes up to EUR 29,500, with VAT, for the top version, Journey Hybrid 155. Deliveries to showrooms are expected to begin in spring 2025, with...

Romania’s ruling coalition sets new dates for presidential elections, confirms candidate

The leaders of the ruling coalition made up of the Social Democrats (PSD), Liberals (PNL), the Democratic Alliance of Hungarians (UDMR), and the minorities' group met on Wednesday evening, January 8, to decide on the new dates for the presidential elections. According to the agreed election schedule, the first round will take place on May […]