BUCHAREST (Romania), January 31 (SeeNews) - Romanian gas transmission system operator Transgaz [BSE:TGN] said on Friday it has signed a memorandum of understanding with peers and organisations from Albania, Bosnia, Croatia, Kosovo, Bulgaria, Montenegro, North Macedonia, Greece and three other countries for the development of natural gas networks in Eastern Europe.
The memorandum aims to ensure a sustainable institutional capacity for the advance and usage of the first joint models for planning transportation in the region and to accelerate the development of the regional gas transmission infrastructure, Transgaz said in a statement filed with the Bucharest Stock Exchange, BVB.
The document was signed on Tuesday by the entities that are members of the Partnership for the Development of Natural Gas Networks in Eastern Europe (EE-NGP) project: Transgaz, Albania's Albagaz, Bosnia's BH-GAS, Bulgaria's Bulgartransgaz, Croatia's Plinacro, Greece's DESFA, Kosovo's economic development ministry, North Macedonia's GA-MA AD - Skopje, Montenegro Bonus, Poland's Gaz-System, Slovakia's EUSTREAM and the United States Energy Association (USEA).
The companies and organizations will work together in order to promote regional cooperation among ministries and gas transmission system operators (TSOs) in Eastern Europe and to improve their capacity to develop mathematical models for forecasting and simulating domestic gas networks, interconnection pipelines and storage facilities.
Also, they will carry out analyses to identify potential investment projects in the gas transmission infrastructure for expanding the gas markets, while ensuring the security and reliability of the regional energy system, and will promote the results of their analyses to representatives of the political, regulatory and industry field, the statement reads.
Transgaz shares traded 2.17% higher at 330 lei ($79/69 euro) on the Bucharest Stock Exchange as at 1528 CET on Friday.
(1 euro=4.7779 lei)