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Transgaz wins auction for Moldova’s Vestmoldtransgaz privatisation
The Transgaz branch in Republic of Moldova, Eurotransgaz SRL, has won the auction for the privatisation of the gas transmission state company Vestmoldtransgaz, Moldovan Prime Minister Pavel Filip has announced on Tuesday, romaniajournal.ro reads.
Filip said the privatisation will lead to the diversification of gas supply and to the lower dependence on Russian gas, hotnews.ro reports.
Transgaz announced on December 28. 2017 that Eurotransgaz SRL, a company established in Chisinau, having as sole associate SNTGN Transgaz SA, submitted to the Commission for the Organization and Conducting of Commercial and Investment Contests for Privatization of Public Property in Chisinau the offer for the acquisition of Vestmoldtransgaz with which to build the Iasi-Ungheni pipeline.
Transgaz shareholders approved in the extraordinary general meeting on December 11 “the establishment in the Republic of Moldova of a limited liability company” and “the mandate of the Transgaz Board of Directors to increase the share capital of the limited liability company set up on the territory of the Republic of Moldova, in view to successfully participate in the Vestmoldtransgaz privatization process.
Vestmoldtransgaz was set up in 2014 to manage the Iasi-Ungheni gas pipeline network and to provide natural gas transmission services on the territory of the Republic of Moldova.
The construction of the Ungheni-Chisinau gas pipeline is the second stage of realization of the interconnection project of the gas transport systems in Moldova and Romania. The new gas pipeline will complete the connection of the gas transport systems between Romania and Moldova, being an extension of the first part, Iasi-Ungheni pipeline, which was put into operation in 2014.
The length of the pipeline will be about 117 kilometres. It will carry around 1.5 billion cubic meters, which fully covers the need for gas in R. of Moldova, without the Transdnestrian region. The completion of the entire project is expected in 2018-2019.
Vestmoldtransgaz was put up for privatisation by the Government of Republic of Moldova for MDL (Moldovan lei) 180 million (approx. EUR 8.8 million), provided investments of EUR 93 million are conducted in the following two years, Radio Chisinau informs.