Taking over of Vestmoldtransgaz company by Transgaz company completed in Moldova

Chisinau, 6 September /MOLDPRES/ - The certificate of finalization of the process of privatization of the Vestmoldtransgaz State Enterprise today was signed with Eurotransgaz Moldova – a subsidiary of the Transgaz Romania Company, following the signing of the sale and purchase contract. Once the reorganization procedure completed, the works of construction of the Ungheni-Chisinau gas pipeline will start.     

The certificate of finalization for the transaction on sale and purchase of Vestmoldtransgaz was signed after the full carrying out of the contract’s terms. Immediately after the signing, 180.2 million lei will be collected in the state budget.

„We have made another major step meant to enhance Moldova’s energy security, from which everybody will benefit, both economic agents and the citizens. This is a big step towards the integration into the European energy system, a step which will be defining in the integration into the European Union,” Economics and Infrastructure Minister Chiril Gaburici said.   

Romanian Minister of Economy Danut Andrusca described the signing of the contract as a historical event. “This is a major project of investments. This privatization has a special significance for me; this is the third promise fulfilled after taking over the mandate,” the Romanian minister of economy noted.  

The Ungheni-Chisinau gas pipeline will have a length of 120 km and a capacity to annually carry about 1.5 billion cubic metres of natural gas from Romania to Moldova. The Romanian company committed to invest up to 93 million euros in the construction of this unit. Transgaz might receive non-refundable European funds worth 46 million euros to enhance the capacity of the gas pipeline to transport gas to Moldova, the director of the company’s European Funds and International Relations Department, Ciprian Alic, said, attending a discussion on the topic of gas in the Black Sea.     

This project will increase the capacity of inter-connection of the present system to 1.5-2.2 billion cubic metres of gas to Moldova. The gas pipeline Ungheni-Chisinau will be put into operation in late 2019, Economics and Infrastructure Minister Chiril Gaburici said.

After the gas pipeline Ungheni-Chisinau is made available for use, Moldova will get possibility to have an alternative source of gas; presently, the country one hundred percent depends on the supplies of Russian gas.

The contract on privatization of Vestmoldtransgaz by the Romanian company Transgaz was signed on 28 March 2018, after the Moldovan ltd enterprise Eurotransgaz and the Romanian Transgaz stock company, as a single associate,  had been announced as winner of the tender on privatization of Vestmoldtransgaz.     

(Reporter V. Bercu, editor M. Jantovan)