Romania, Transgaz has signed a 45 million euros loan deal with BCR

, SEE Energy News

Romanian natural gas transmission system operator Transgaz said that it is has signed a 45 million euros loan deal with local Banca Comerciala Romana (BCR).

The statement from the company said that the proceeds of this loan will be used to finance and/ or refinance an investment project in northeast Romania for the enhancement of gas supply in the area and to ensure transmission capacities to and from Moldova. The loan was granted for a period of 12 years.

Last October, Transgaz signed a loan agreement worth 74 million euros with BCR. The loan is to be used to finance two projects: the development of the national gas transmission system in northeastern Romania, namely the Onesti-Gheraesti-Letcani route and the construction of interconnection between the national gas transmission system and an international transmission pipeline Transit-1.