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Romania: Government finds the BRUA pipeline financing partnership with EBRD, a confidence signal sent to investors

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The Government hails the partnership relation between EBRD and Transgaz, as the signing of the loan agreement of BRUA pipeline is a confidence signal sent to investors with respect to business opportunities that Romania is offering, Vice Prime Minister Viorel Stefan stated in London, on the signing ceremony of the loan agreement between Transgaz and EBRD, worth 278 million lei (EUR 60 million dedicated to building the Romanian section of the BRUA natural gas pipeline).

Vice Prime Minister Viorel Stefan emphasized that a new funding source of BRUA gas pipeline on Romanian territory is thus secured, alongside Transgaz investment of EUR 149 million, EU grant of EUR 179 million, EIB loan of EUR 50 million, as well other financiers. The total cost of the project amounts to EUR 479 million.

”The Romanian segment of BRUA is significant as length and functionality. The EBRD support in funding the execution stages of the first phase will bring additional guarantee that the standards will be observed and that the first phase of the project will be completed on time, therefore, by December 31, 2019 at the latest”, the Vice Prime Minister stated.

With a total length of 1318 km, the natural gas pipeline between Romania, Bulgaria, Hungary and Austria is a project that will ensure an extended integration of European gas markets and a diversification of routes and sources of supply.

By promoting diversification of routes and supply sources, the BRUA pipeline will also support the development of local economies and competition on regional energy markets for the benefit of consumers.

Source: energyworldmag

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