The European Investment Bank (EIB) and Romanian natural gas transmission system operator Transgaz have signed an agreement for the provision of advisory services to prepare and develop a decarbonization strategy for Romania’s gas network.
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 decarbonization strategy for Transgaz to gradually transition to climate neutral activities.
Romanian Prime Minister Nicolae Ciuca said that the conclusion of this agreement 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.
Transgaz CEO Ion Sterian said that the development of Transgaz’s decarbonization strategy confirms once again our commitment to transitioning to a climate neutral activity. It is an additional proof of the company’s commitment to the sustainable development of Romania’s economy and energy system.
EIB experts will work alongside Transgaz staff to analyze the status of Romania’s gas network as well as its greenhouse gases 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.