“The amount may increase substantially once Romania’s on-shore and off-shore projects are clarified,” Transgaz said in its 2013-2017 Management Plan published on the company’s website.
Large oil and gas companies, such as OMV Petrom or ExxonMobil, are currently drilling for hydrocarbon in the Black Sea. Once production starts, the companies will need new pipelines to transport the gas.
Transgaz expects it will invest RON732.7 million in new pipelines over the next four years.
The company is considering launching bond issues or taking out loans from the European Bank for Reconstruction and Development or the World Bank to finance its investments.
Transgaz is 58.51%-owned by the Economy Ministry. Romanian investment fund Fondul Proprietatea has almost 15% of its shares and the rest is distributed among minority shareholders.