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MAE welcomes signing of agreement between Transgaz and Three Seas Initiative Investment Fund

May 26, 2022

 The Ministry of Foreign Affairs (MAE) welcomes the signing, on Tuesday, of an agreement between Transgaz SA and the Three Seas Initiative Investment Fund (3SIIF), on the sidelines of the World Economic Forum in Davos.The agreement lays the foundations for the collaboration between the two parties for the development of natural gas infrastructure and connectivity in Romania, the Ministry of Foreign Affairs said in a press release sent on Tuesday."The Ministry of Foreign Affairs pays special attention to the financing of projects under the Three Seas Initiative (3SI), which contribute to increasing economic convergence and cohesion between EU states in the Baltic Sea, Black Sea and Adriatic regions.The 3SI projects proposed for funding and development are in the transport, energy and digital fields, with a focus on increasing interconnectivity in the region. Among the priority 3SI projects for Romania are Rail2Sea and Via Carpathia, which aim to modernize and develop the railway and road corridors form the north of Europe to the south, as well as between the Port of Gdansk and the Port of Constanta. The agreement, signed on Tuesday, aims to jointly develop natural gas projects for hydrogen, through joint venture companies owned by Transgaz and the Three Seas Initiative Investment Fund. The total value of the projects is estimated at 626 million euros," the cited source states.

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