This is the second tranche of an approved EIB loan worth EUR150 million. The transaction is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, or “Juncker Plan”.
The contract for the first tranche of EUR50 million was signed on December 17, 2018.
The EUR150 million financing covers the construction of a 308.2 km-long transmission pipeline, along with the associated above-ground infrastructure. The new pipeline will link the gas sources available at the Black Sea shore with the existing gas transmission system and with the BRUA transmission corridor (Tuzla – Podisor pipeline).
The EIB will also grant EUR38 million to Eurotransgaz SRL, Transgaz’s subsidiary in the Republic of Moldova, to fund Vestmoldtransgaz SRL for the Ungheni – Chisinau natural gas transmission pipeline.
So far, the EIB has signed with Transgaz three financing contracts worth EUR50 million each. Two contracts target the implementation of the first phase of the BRUA project and the third targets the first tranche for the construction of Tuzla – Podisor pipeline.