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EIB and Transgaz sign agreement to develop decarbonisation strategy for Romania’s gas network

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The European Investment Bank (EIB) and 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 affordable and clean energy for Romanian citizens and companies.

 

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. 

 

The development of the decarbonization strategy at Transgaz level, based on a consultative agreement with the European Investment Bank (EIB), is an approach that is part of the Government's objectives for the transition to a green economy, as well as an example of good practice, Prime Minister Nicolae Ciuca said on Monday.

He participated, at the Victoria Governmental Palace, in the signing ceremony of the agreement between the National Natural Gas Transport Company Transgaz SA and the European Investment Bank regarding the provision of consultancy services in order to develop the decarbonization strategy.

"I congratulate all those involved in the preparation of the signing of this agreement between the European Investment Bank and the Transgaz National Company for the development of the decarbonization strategy. It is an approach that is in line with the objectives and the level of ambition of the Government for the transition to a green economy. It is very important for me to emphasize that this is an example of good practice and I encourage all institutions, all companies to follow this example. Practically, through this approach, we also fulfill the objectives that we have assumed under PNRR [the National Recovery and Resilience Plan], so that we can maintain this balance between reforms and investments and, finally, make this transition to the green economy take place," said Ciuca.

The Prime Minister highlighted the full support given to Romania by the European Investment Bank, mentioning, among other things, the projects carried out in the fields of health and education.

"Today we spoke with EIB Vice-President Christian Kettel Thomsen, reviewing some of the projects in which the European Investment Bank has been involved. Regarding the projects for the construction of the hospital infrastructure, we discussed the three hospitals and together we commit ourselves so that these projects can be started as soon as possible. Also, the support that the European Investment Bank provided to the Ministry of Education, financing a whole series of projects in Romanian universities. And, of course, support for young people from low-income families. It is an experience that gives us confidence that we can continue hereon to identify the opportunities created by the security situation we are in, with the specifics of the border countries of Ukraine, and, of course, the other opportunities through which we seek to secure our energy sources and the energy independence from Russia," Nicolae Ciuca transmitted.

Alongside the Prime Minister, on behalf of the Government, the event was attended by the Minister of Finance, Adrian Caciu, the Minister of Energy, Virgil Popescu, and the Secretary General of the Executive, Marian Neacsu.

The agreement was signed by EIB Vice President Christian Kettel Thomsen and Transgaz CEO Ion Sterian. 

 

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.

 

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