June 29 (SeeNews) - Romania's energy ministry said on Friday that the country will meet the deadlines for the construction of a natural gas pipeline connecting Bulgaria, Romania, Hungary and Austria (BRUA).
"I think it is imperative that each country that will be transited by BRUA move forward simultaneously with the construction of this gas pipeline. I do not think it would be in anyone's interest if things are delayed," energy minister Anton Anton said as quoted in a press release.
Earlier this month, Romania's economy ministry said that the country's national gas transmission company Transgaz [BSE:TGN] has launched the construction of BRUA.
The first phase of the BRUA project envisages the construction of a 479 km pipeline.
The total estimated cost of the project's first phase, which also includes the construction of compressor stations, is 478.6 million euro ($561 million).
The pipeline route in Romania follows the general direction from south-east to west, crossing the counties of Giurgiu, Teleorman, Dambovita, Arges, Olt, Valcea, Gorj, Hunedoara, Caras-Severin and Timis.
In April, Transgaz started works on three compressor stations for the BRUA pipeline - in Podisor, Bibesti and Jupa.
Transgaz's shares were trading 2.12% lower at 323 lei by 1453 CET on the Bucharest Stock Exchange.
($ =0.8647 euro)