Romania: A stake in Transgasz’ subsidary Vestmoldtransgaz to be acquired by EBDR

, SEE Energy News

Vestmoldtransgaz is a Moldovan subsidiary of Romanian natural gas transmission system operator Transgaz. Transgaz bought Vestmoldtransgaz through Eurotransgaz in September 2018 for 8.8 million euros. The European Bank for Reconstruction and Development (EBRD) said that it will acquire 25 % stake in Vestmoldtransgaz.

The statement from the Bank said that the transaction consists of a capital increase for Vestmoldtransgaz, in which the EBRD will participate with 20 million euros. Transgaz’ CEO Ion Sterian said on the occasion that this transaction will contribute to the long-term development of gas transmission system in Moldova. However, the transaction is still pending approval of Transgaz’ shareholders.

Vestmoldtransgaz operates the gas transmission link between Moldova’s Ungheni and Romania’s Iasi, with a further connection point to Moldova’s capital Chisinau nearing completion.