The contract was valid until the end of 2023 and was terminated with the mutual agreement of the parties.
“The intense negotiations between the European Commission, Transgaz and Gazprom Export materialized in an agreement for the termination of the legacy Contract between Transgaz and GPE concluded for the gas transmission through the T3 transit pipeline on the territory of Romania to third countries,” Transgaz said in a statement.
The termination is of particular importance as it creates the prerequisites for the application of the European regulatory framework for gas transmission capacity booking through the T2 and T3 transit pipelines and at the same time ensures the optimal protection of Transgaz’ financial interests arising from the legacy contract for gas transmission through the T3 transit pipeline, it said.
The termination creates the necessary framework for the conclusion of the Interconnection Agreements for Isaccea 2, 3 and Negru Voda/Kardam 2, 3 Interconnection Points, ensuring the free access of third parties to capacity booking on the T2 and T3 transit pipelines, it ensures the collection of the remaining amounts to be paid from the legacy contract and it creates the premises for increasing the use of the Romanian gas transmission infrastructure.
Transgaz is 58.5% owned by the Romanian state.