Transgaz is a key player in the Romanian energy system, securing the access to secure, affordable and clean energy for Romanian citizens and companies. Transgaz aims to foster Romania’s clean energy transition, thus contributing to the country’s climate ambitions.
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 conclusion of this agreement with the European Investment Bank for the development of the decarbonisation strategy of SNTGN Transgaz SA, the Operator of the Romanian National Gas Transmission System, is an important step forward for Romania in terms of its goals for the transition to a green economy and, at the same time, it paves the way for similar actions as far as other state companies and institutions are concerned. I take this opportunity to congratulate Transgaz and the European Investment Bank for the efforts made in order to meet Romania’s climatic neutrality objectives,” stated Romania’s Prime Minister Nicolae Ciuca.
“The development of Transgaz’s decarbonisation strategy confirms once again our commitment to transitioning to a climate neutral activity. We are glad that in this important endeavour, the EIB is supporting us, as the EU’s Climate Banks. It is an additional proof of our company’s commitment to the sustainable development of Romania’s economy and energy system.” said Ion Sterian, General Manager of Transgaz.
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. In the context of another advisory assignment by the EIAH, Transgaz recently completed a Strategic Environmental Assessment related to the ten-year Network Development Programme for the National Gas Transmission System. This assessment laid the ground for the decarbonisation strategy.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2021, the European Investment Bank Group provided EUR 907 million for new investment across Romania. The EIB Group’s engagement in the country included financing for construction of two new regional hospitals, modernisation of the national electricity network to harness renewable energy and deployment of smart meters, improving energy efficiency and scaling up high-impact business investment. Over the last 31 years, the EIB Group has provided more than EUR18 billion for public and private sector investment across Romania, out of which over EUR1.2 billion for energy investments.