In the summer of 2011, officials of the two countries said the construction of a natural gas pipeline connecting Ungheni in Moldova to Iasi in Romania, within an investment of EUR19 million, is backed both by the European Union and the Russian Federation.
They also said at the time that the EU agreed to provide subsidy of EUR7 million for the construction of the gas pipeline, and that the Moldovan authorities were in talks with the European Bank for Reconstruction and Development and the European Investment Bank to cover the rest of the funds.
Moldova’s annual natural gas consumption amounts to 3 billion cubic meters, while Romania’s annual natural gas consumption reaches nearly 14 billion cubic meters. The pipeline will allow Romania to import and export natural gas.
The Romanian and Moldovan Governments on Saturday held a joint meeting in Iasi, northeastern Romania, which was a first for the two cabinets. Romanian Prime Minister Mihai Razvan Ungureanu and his Moldovan counterpart Vlad Filat were welcomed with full military honors.