EIB and Transgaz sign agreement to develop decarbonisation strategy for Romania’s gas network

The European Investment Bank (EIB) and Transgaz have signed an agreement for the provision of advisory services to prepare and develop a decarbonisation strategy for Romania’s gas network.

Transgaz is a key player in the Romanian energy system, securing the access to affordable and clean energy for Romanian citizens and companies.

The technical assistance package delivered by EIB and external experts within the context of the European Investment Advisory Hub (EIAH), will include the preparation and development of a decarbonisation strategy for Transgaz to gradually transition to climate neutral activities. 

Nicolae Ciuca, Prime-Minister of Romania stated: “The conclusion of this agreement with the European Investment Bank for the development of the decarbonisation strategy of SNTGN Transgaz SA, the Operator of the Romanian National Gas Transmission System, is an important step forward for Romania in terms of its goals for the transition to a green economy and, at the same time, it paves the way for similar actions as far as other state companies and institutions are concerned. I take this opportunity to congratulate Transgaz and the European Investment Bank for the efforts made in order to meet Romania’s climatic neutrality objectives.”

Christian Kettel Thomsen, EIB Vice-President, said: “Projects such as this one are particularly timely in view of the current geo-political context. We are happy to extend our cooperation with Transgaz and to provide technical assistance in the development of their decarbonisation strategy. I am confident that our advisory support will accelerate the company’s transition to a carbon neutral business model and contribute to achieving Romania’s and Europe’s climate action goals.”

Ion Sterian, Transgaz’ Director General, commented: “The development of Transgaz’s decarbonisation strategy confirms once again our commitment to transitioning to a climate neutral activity. We are glad that in this important endeavour, the EIB is supporting us, as the EU’s Climate Banks. It is an additional proof of our company’s commitment to the sustainable development of Romania’s economy and energy system.”

EIB experts will work alongside Transgaz staff to analyse the status of Romania’s gas network as well as its GHG emission inventory and climate vulnerability policies.

The strategy will include measures to help reduce emissions within the network, as well as adaptation criteria to mitigate climate risks, highlighting investment needs and relevant financing sources where relevant.