EBRD to fund project that links South Gas Corridor with Western Europe

26/02/2018 16:34 Natural Gas

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The European Bank for Reconstruction and Development (EBRD) is offering 60 million euros as a loan for the development of a new gas pipeline between Romania, Bulgaria, Hungary and Austria (BRUA).

BRUA can guarantee transportation of gas from the Southern Gas Corridor (SGC) to Austria via the portion on the territory of Romania.


The pipeline will provide the integration of the SGC sources into the Central and Western European markets.

 

As mentioned in the company statement, the so-called BRUA gas corridor with a 1,318 km length will improve interconnection between the countries along its route. It will support the energy market by enabling new connections with major gas infrastructure projects such as the Southern Gas Corridor, via Trans Adriatic Pipeline (TAP) and Trans Anatolian Natural Gas Pipeline (TANAP), as well as other central European gas hubs and future offshore production sites in the Black Sea.

 

The EBRD funds will be extended to Romania’s Transgaz, which is developing the Romanian part of the pipeline. The overall cost of the project is 479 million euros.

 

The Southern Gas Corridor, worth $41.5 billion, is considered one of the main energy projects for the EU, which aims for diversification of gas sources. The project envisions the transmission of gas from the Caspian region to the European countries via Georgia and Turkey.


At an initial phase, the gas to be produced in the Stage 2 of development of Azerbaijan's Shah Deniz field represents the main source for the Southern Gas Corridor projects. Other sources can also be added to this project at a later stage.

 

As part of the Shah Deniz Stage 2, the gas will be delivered to Turkey and European markets by expanding the South Caucasus Pipeline and the development of Trans-Anatolian Natural Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).

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