Romania: Depogaz received 38 million euros grant

, SEE Energy News

Depogaz Ploiesti received a grant of 38 million euros. Grant was awarded by the European Executive Agency for Climate, Infrastructure and the Environment. It will be used for the modernization of the Bilciuresti gas storage.

The project aims to increase the daily gas delivery capacity from 14 to 20 million cubic meters. In addition, it will increase the storage capacity to 108 million cubic meters.

The total value of the investment in the project is over 110 million euros. The Bilciuresti project will contribute to increasing the security of supply and market integration by increasing transport flows and diversifying natural gas resources in Romania and Southeastern Europe, as well as by ensuring flexibility in operations and services of balancing the natural gas network.

Romanian Minister of Energy Virgil Popescu said that this grant marks a new stage in the big project for the modernization of the energy sector in the country.

Romania has to increase its gas storage and extraction capacity to meet the goal of energy independence and security. At the same time, the country is preparing for the moment when it will launch the Black Sea gas production.

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