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European Commission to co-finance some of Transgaz investments

According to a release to the Bucharest Stock Exchange (BVB), the European Commission (EC) approved the co-financing of 43 energy projects. Out of these, three projects involve the natural gas transporter Transgaz (TGN).

One of the projects is related to the interconnection with Hungary, and Romania is expected to receive EUR 8.3 mn. The interconnection with Bulgaria is the second project and the co-financing amounts to EUR 8.9 mn, split between the two countries depending on the level of investments. The third project involves some investments in equipment and infrastructure and stands at EUR 1.6 mn. The European Commission included also Nabucco on the list of major projects and the co-financing for Nabucco reaches EUR 200 mn. We believe that the funds are not reimbursable, thus we view the news as positive for Transgaz. Still, we assume that the investments part co-financed by the EC will not be included in the Regulated Asset Base.

Sursa: http://www.rciro.ro

Tags: investments european transgaz commission bvb

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