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Transgaz takes over Moldova’s Vestmoldtransgaz

Transgaz takes over Moldova’s Vestmoldtransgaz

The sale-purchase contract of state-owned Vestmoldtransgaz Chisinau, the company that manages the Moldovan side of the Iasi-Ungheni gas pipeline, has been signed on Wednesday, Minister of Economy of the Republic of Moldova, Chiril Gaburici and Minister of Economy of Romania, Danut Andrusca, Transgaz’ Director – General, Ion Sterian, attending the event.

Transgaz takes over Moldova’s Vestmoldtransgaz

“The event marks the end of a stage in the privatization process of SE Vestmoldtransgaz through an investment contest and outlines one of the most significant transactions recently made by the Government of the Republic of Moldova, for a purchase price of Moldovan lei 180,200,000 and an investment plan of up to EUR 93,000,000 over the next two years,” a press release informs.

”By signing this contract, we may surely state that we have taken another major step towards the construction of a very important infrastructure project for Moldova. (…) This project will implicitly contribute to the increase in the energy security of the Republic of Moldova during an extremely difficult period in which the diversification of the energy supplies, especially natural gas, is currently a very topical issue. Moreover, the Ungheni-Chisinau pipeline will allow the national authorities to meet one of their priority goals in sectoral strategies – to lay the foundations for a real gas market,” Minister of Economy and Infrastructure of the Republic of Moldova, stated.

At his turn, the Minister of Economy, Danut Andrusca underlined that this is more than a mere privatisation.

”It’s more than a mere pipeline. It is more than a mere investment and more than a strategical move on behalf of Romania or the Republic of Moldova. It is about fraternity and unity of Romanian people with Romanian people,” the Romanian official said.

Regarding the economic nature of the transaction, Andrusca referred to Transgaz’ becoming an important regional energy player and investor, emphasising that Transgaz has asserted its place and role in the portfolio of the Ministry of Economy.

”As of today, the company has turned into a regional economic player. The investment will create new jobs, added value and will increase the energy security of both countries. It is a long-term binding and tangible contribution to the diversification of gas supply sources and routes to the Republic of Moldova,” Romania’s Minister of Economy noted.

Moreover, Transgaz’ Ion Sterian added that a the financing, construction and operation of the Ungheni-Chisinau pipeline, bridging the Iasi-Ungheni interconnection, will be achieved in predictable and safe conditions.

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