The transaction also entails the jointly undertaking by Eurotransgaz SRL and SNTGN Transgaz SA of the obligation to buy from EBRD the EBRD`s participation interest in Vestmoldtransgaz SRL at a predetermined price when EBRD exercises its participation interest put option in Vestmoldtransgaz SRL.
Vestmoldtransgaz, a subsidiary of Transgaz, is the technical operator of the national system of natural gas transmission in the Republic of Moldova, ensuring the fulfilment under conditions of efficiency, transparency, safety, non-discriminatory access and competitiveness of the national strategy regarding the natural gas transportation and dispatch, while observing the requirements of the European and national legislation, the standards of quality, performance, environment and durable development.
Mid-January 2019, Transgaz started the construction of the Ungheni-Chisinau natural gas pipeline, after having acquired Vestmoldtransgaz in 2018. The Ungheni – Chisinau pipeline will be approximately 120 km long and will have a capacity to transport annually about 1.5 billion cubic meters of natural gas from Romania to Moldova.