Romania's Transgaz ready to build pipeline for Black Sea gas
BUCHAREST, March 16 (Reuters) - Romania's gas pipeline operator Transgaz will build a new pipeline worth an estimated 500 million euros ($529.30 million) meant to bring offshore Black Sea gas to the national grid once the two gas producers make a final investment decision, Prime Minister Nicolae Ciuca said on Thursday.
Romanian oil and gas group OMV Petrom, majority controlled by Austria's OMV and state-owned Romgaz are expected to make a final decision to invest in a long-awaited offshore project by mid-2023. The project is estimated to cost 4 billion euros and produce at least 6 billion cubic metres of gas per year.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
"We are readying the transport infrastructure (for the project)," the prime minister said. "Transgaz has signed the contract, with ... works set to start after a final investment decision is made." ($1 = 0.9446 euros) (Reporting by Luiza Ilie;)