Moldova will obtain $95 million for gas interconnection with Romania

03/01/2017 11:10 Natural Gas

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A funding package of $95 million has been prepared for a natural gas pipeline between Moldova and Romania.

The funds will be extended to Î.S. Vestmoldtransgaz, a state-controlled firm which will construct and operate the gas pipeline and the Romania-Moldova interconnector.

 

And as part of the package, the Moldovan government has settled to implement an widespread reform package to stimulate the liberalisation of the energy market and reinforce competition in the sector.

 

The €92 million ($95 million) package has been put together by the European Union, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

 

About €41 million will be lent by the EIB and the EBRD each, while €10 million will be offered by the EU.

 

EIB vice-president Jan Vapaavuori declared the project contributes to the expansion of the energy resources for the Republic of Moldova, a country reliant on energy imports. This will aid to reinforce the energy security and support both the liberalization of the gas market in the country as well as its integration in the European energy system.

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