The European Investment Bank (EIB) and Romania’s Natural Gas Transmission System Operator Transgaz have signed an agreement to prepare and develop a decarbonisation 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 decarbonisation strategy for a key player in the Romanian energy system like Transgaz to gradually transition to climate-neutral activities.
“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,” said Nicolae Ciuca, Prime Minister of Romania.
“Projects such as this one are particularly timely in view of the current geopolitical context,” added Christian Kettel Thomsen, EIB Vice-President. “[…] I am confident that our advisory support will accelerate the company’s transition to a carbon-neutral business model and contribute to achieving Romania’s and Europe’s climate action goals.”
EIB experts will work alongside Transgaz staff to analyse the status of Romania’s gas network as well as its GHG 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.
“The development of Transgaz’s decarbonisation strategy confirms once again our commitment to transitioning to a climate-neutral activity,” commented Ion Sterian, Transgaz’s Director General. “We are glad that in this important endeavour, the EIB is supporting us, as the EU’s Climate Banks. It is additional proof of our company’s commitment to the sustainable development of Romania’s economy and energy system.”
In the context of another advisory assignment by the EIAH, Transgaz recently completed a Strategic Environmental Assessment related to the ten-year Network Development Programme for the National Gas Transmission System. This assessment laid the ground for the decarbonisation strategy.