Market News


EIB and TGN - agreement - gas transmission network decarbonization strategy

Release Date: 5/16/2022 2:16:58 PM

IRIS Code: A8393

EIB advisory and Romanian National Gas Transmission System Operator develop a decarbonisation strategy of the country’s natural gas network



The EUROPEAN INVESTMENT BANK (EIB) and SNTGN TRANSGAZ SA (Transgaz) have signed an agreement for the provision of advisory services to prepare and develop a decarbonisation strategy for Romania’s gas network.  

Transgaz is a key player in the Romanian energy system, securing the access to secure, affordable and clean energy for Romanian citizens and companies. Transgaz aims to foster Romania’s clean energy transition, thus contributing to the country’s climate ambitions.

The technical assistance package delivered by EIB and external experts within the context of the European Investment Advisory Hub (EIAH), will include the preparation and development of a decarbonisation strategy for Transgaz to gradually transition to climate neutral activities. 

Mr. Nicolae CIUCA, Prime-Minister of Romania stated: “The conclusion of this agreement with the European Investment Bank for the development of the decarbonisation strategy of SNTGN Transgaz SA, the Operator of the Romanian National Gas Transmission System, is an important step forward for Romania in terms of its goals for the transition to a green economy and, at the same time, it paves the way for similar actions as far as other state companies and institutions are concerned. I take this opportunity to congratulate Transgaz and the European Investment Bank for the efforts made in order to meet Romania’s climatic neutrality objectives.”

Mr. Christian KETTEL THOMSEN, EIB Vice-President, said: “Projects such as this one are particularly timely in the current geo-political context. We are happy to extend the cooperation with Transgaz and to provide technical assistance in the development of their decarbonisation strategy. I am confident that our support will accelerate the company’s transition to a carbon neutral business model and contribute to achieving Romania’s and Europe’s climate action goals.”

Mr. Ion STERIAN, Transgaz’ Director General, commented: “The development of Transgaz’s decarbonisation strategy confirms once again our commitment to transitioning to a climate neutral activity. We are glad that in this important endeavour, the EIB is supporting us, as the EU’s Climate Banks. It is an additional proof of our company’s commitment to the sustainable development of Romania’s economy and energy system.”

EIB experts will work alongside Transgaz staff to analyse the status of Romania’s gas network as well as its GHG emission inventory and climate vulnerability policies.

The strategy will include measures to help reduce emissions within the network, as well as adaptation criteria to mitigate climate risks, highlighting investment needs and relevant financing sources where relevant. In the context of another advisory assignment by the EIAH, Transgaz recently completed a Strategic Environmental Assessment related to the ten-year Network Development Programme for the National Gas Transmission System. This assessment laid the ground for the decarbonisation strategy.















Information provided by IRIS, the news platform of the Bucharest Stock Exchange.


Bucharest Stock Exchange ("BVB") is not responsible for the content of this News item. Issuers whose financial instruments are traded on markets operated by BVB are required to report in accordance with current legal and regulatory provisions. BVB publishes these Reports as market administrator, appointed by ASF. When, for investors’ information, Reports are published, either signed by different persons, or with conflicting information, legal liability lies fully with the signatories. BVB disclaims any obligation or responsibility towards issuers or third parties, regarding the reality, completeness and accuracy of information provided by them and distributed by BVB. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

©2016 Bucharest Stock Exchange. All rights reserved