| Project Detail |
Project Description Provision of an equity investment in the form of a capital increase in return for a stake in Vestmoldtransgaz srl (VMTG), the Moldovan gas transmission company that is ultimately owned and controlled by the Romanian Transport Sistem Operator SNTGN Transgaz SA (Transgaz). The Banks investment will fund the construction of the natural gas pipeline Ungheni-Chisinau in Moldova with a length of ca. 120 km and a planned capacity of 1.5 bcm. Project Objectives The project is part of the EU-promoted gas connection of the transmission systems of Romania and Moldova by linking Chisinau, a major area of gas consumption in the country, to the interconnector between the eastern Romanian city of Iasi and Ungheni, a Moldovan town on the Romanian border. This connection will enhance Moldovas energy security by diversifying its gas supply sources - a prerequisite for the countrys economic development. Transition Impact The project targets the resilient and integrated transition qualities. (i) Resilient: the project will enable Moldova to diversify its gas supply sources and procure gas from Romania and other European markets to enhance supply security. (ii) Integrated: The pipeline will connect Moldova with Romania and thus with future major gas infrastructure projects such as TAP, gas sources from Central European gas hubs and potential gas transportation from Black Sea deposits. Greater integration of European gas markets will allow competition to develop across borders, producing important economic benefits for consumers and increasing security of supply. |
