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Romania's Transgaz, Japan's Itochu to join forces in infrastructure projects in Europe

Author Radomir Ralev
Romania's Transgaz, Japan's Itochu to join forces in infrastructure projects in Europe Transgaz. Author ( License: all rights reserved.

BUCHAREST (Romania), July 29 (SeeNews) - Romanian gas transmission company Transgaz [BSE:TGN] has signed a memorandum of understanding (MoU) with Japan's Itochu for cooperation in infrastructure projects throughout Europe, it said.

The two-year MoU, to be joined by natural gas producer Romgaz [BSE:SNG], envisages cooperation in projects such as the construction of the liquified natural gas (LNG) terminal near Greece's Aegean city of Alexandroupolis, the planned gas pipeline from Georgia to Romania - White Stream, as well as the LNG terminal on the Croatian island of Krk, Transgaz said in a statement on Friday.

Moreover, the companies will cooperate in the development of natural gas transport infrastructure at national level in Romania for the purpose of connecting all local communities to the network, Transgaz said.

"The memorandum allows us to have access to major European gas infrastructure projects, financing and investment in the field of chemistry, petrochemistry and energy, side by side with an important partner with a very good reputation, serious experience and with the ability to evaluate and develop such projects," Transgaz director-general Ion Sterian said in the statement.

The agreement was signed in view of the intention of Transgaz to expand its activity in the European energy infrastructure sector, the Romanian company said.

Transgaz is the operator of Romania's national natural gas transportation system. The company shares traded 0.14% higher at 360.5 lei ($84.8/76.2 euro) at 1342 CET on Monday on the Bucharest Stock Exchange.

(1 euro = 4.72861 lei)