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Romania's Transgaz ready to build pipeline for Black Sea gas

Natural Gas World - Latest News · last updated

BUCHAREST, March 16 (Reuters) — Romania’s gas pipeline operator Transgaz will build a new pipeline worth an estimated 500 million euros ($529.30 million) meant to bring offshore Black Sea gas to the national grid once the two gas producers make a final investment decision, Prime Minister Nicolae Ciuca said on Thursday.

Romanian oil and gas group OMV Petrom, majority controlled by Austria’s OMV and state-owned Romgaz are expected to make a final decision to invest in a long-awaited offshore project by mid-2023. The project is estimated to cost 4 billion euros and produce at least 6 billion cubic metres of gas per year.

“We are readying the transport infrastructure (for the project),” the prime minister said. “Transgaz has signed the contract, with … works set to start after a final investment decision is made.” ($1 = 0.9446 euros) (Reporting by Luiza Ilie;)

 
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