EC selects for financing 4 energy projects with Romanian participation, Nabucco

Romania is involved in four of the 43 major energy projects the European Commission (EC)
selected on March 4 for funding, among which the Nabucco, a project due to receive a maximum
contribution from the EU budget of EUR 200 million. The name of the company requesting cofunding
for this project was Nabucco Gas Pipeline International GmbH, the other countries
involved being Austria, Hungary, Bulgaria and Germany. The electric power and natural gas
infrastructure projects that were selected by the EU to invest in represent Europe's priorities in
the field of energy. Two more projects involving Romania are related to the interconnection of gas
networks: the Romania-Hungary gas interconnector project, with a maximum contribution from
the EU budget of EUR 16.606 million, the company representing Romania being Transgaz SA, and
the Romania-Bulgaria gas interconnector project, with a maximum contribution from the EU
budget of EUR 8.929 million and also involving Transgaz SA. The fourth project Romania is
involved in is the one aimed at upgrading pipelines, in order the gas flow to be able to circulate in
the other effect too, than ordinary deliveries, allowing thus interventions in case of energy crisis in
neighboring countries. The maximum contribution of EU is EUR 1.56 million. The Romanian
company involved is Transgaz SA. Based on this decision, the European Commission allotted EUR
910 million for 12 projects of interconnection of electricity networks and EUR 1.39 billion for 31
gas pipeline projects. The projects selected on March 4 by the European Executive would help the
completion of major investments, which were likely to suffer delays due to slowing economic
activity. By co-funding up to 50% of some segments of these projects, the EU will stimulate the
private sector to invest, in its turn, up to EUR 22 billion. The amount of EUR 2.3 billion will be
made available to promoters of the projects in the next 18 months.

Source: Agerpres.