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Romania’s Transgaz has purchased Moldova’s Vestmoldtransgaz

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World Pipelines,

This week, in the presence of the Minister of Economy of the Republic of Moldova, Mr. Chiril Gaburici and the Minister of Economy of Romania, Mr. Danut Andrusca, Transgaz’ Director General, Mr. Ion Sterian, the representatives of Eurotransgaz Ltd, and of the Chisinau authorities signed the contract for the sale-purchase of the State Enterprise Vestmoldtransgaz.

The event marks the end of a stage in the privatisation 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 180.2 million Moldovan lei (US$10.9 million/€8.8 million) and an investment plan of up to €93 million over the next two years.

The Minister of Economy and Infrastructure of the Republic of Moldova, Mr. Chiril Gaburici, underlined that “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. Through this privatisation announced by the Moldovan authorities at the end of October 2017, Transgaz, and I dare say, the Romanian state confirmed its good and serious intentions to contribute to increasing the security of our country's natural gas supply. 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.”

In the context of the contract signing ceremony, Transgaz’ Director General, Mr. Ion Sterian stated that the event: “is a step forward to create the proper conditions underlying the construction of the gas pipeline Ungheni-Chisinau, with all relevant milestones defined and approved under the FEED, which will offer higher flexibility to the Republic of Moldova in the selection of optimum gas sources and routes to supply the domestic consumers.”

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