Top European bank to provide Moldova with 41 million euros to extend Iasi-UIngheni gas pipeline to Chisinau

Chisinau, 28 September /MOLDPRES/ - The European Bank for Reconstruction and Development (EBRD) will provide Moldova with 41 million euros, out of overall 93 million euros needed, to extend the gas pipeline Iasi-Ungheni up to Chisinau. The difference is likely to be covered by a loan received from the European Investment Bank (EIB) and co-financing on behalf of EU.

According to the Economics Ministry’s press service, the project’s goal is to enhance Moldova’s energy security by diversifying the sources of supply with natural gas. The project will include also an action plan with the objective of liberalizing and reforming the gas sector of Moldova and will back the agenda of reform in the natural gas sector, through liberalizing the market, in line with Moldova’s commitments before EU and Energy Community.   

BERD informed on its official webpage that it was cooperating with more partners to prepare the project, including the EU, Energy Community EIB and Swedish International Development Cooperation Agency.  

The Iasi-Ungheni gas pipeline interconnects the gas networks from Romania and Moldova and was inaugurated on 27 August 2014. Given the current technical parameters, Moldovan presently imports over 1.1 million cubic metres of gas from Romania. Following the construction of the second phase of the gas pipeline up to Chisinau, it will have a maximal transportation capacity of 1.5 billion cubic metres of gas per year.  

(Reporter A. Mardare, editor L. Alcaza)