EBRD to finance project linking SGC and Western Europe
The European Bank for Reconstruction and Development (EBRD) will provide 60 million euros loan for the construction of a new gas pipeline between Romania, Bulgaria, Hungary and Austria (BRUA), EBRD said.
According to the statement, BRUA can ensure transmission of gas from the Southern Gas Corridor to Austria through the section on the territory of Romania. The pipeline will ensure the integration of the Southern Gas Corridor sources into the Central and Western European markets.
"With a total length of 1,318 km, the so-called BRUA gas corridor will offer better interconnection between the countries along its route," the statement added.
The report says that it will boost the energy market by enabling new links with major gas infrastructure projects such as the Southern Gas Corridor, through Trans Adriatic Pipeline (TAP) and Trans Anatolian Natural Gas Pipeline (TANAP), other central European gas hubs and future offshore production sites in the Black Sea.
The EBRD funds will be extended to Romania’s Transgaz which is building the Romanian section of the pipeline.