Onești-Gheraesti-Letcani Gas Pipeline

From Global Energy Monitor
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Onești-Gheraesti-Letcani Gas Pipeline is a proposed natural gas pipeline.[1]

Location

The pipeline would run from the Technological Node Onești with the Technological Node Lețcani in Romania.[1][2]

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Project Details

  • Operator: SNTGN Transgaz SA[1]
  • Parent Company:
  • Proposed capacity:
  • Length: 165 km / 102.62 mi[1]
  • Diameter: 700 mm / 28 inches[3]
  • Cost: €131 million (US$155 million)[4]
  • Financing: A loan of €74 million (US$87 million) from Romanian Commercial Bank, also to cover another Transgaz gas pipeline investment project[5]
  • Status: Proposed
  • Start Year: 2021

Background

The pipeline is listed as a part of the European Network of Transmission System Operators for Gas (ENTSOG) 2020 Ten Year Network Development Plan which states the project is "delayed" due to "obtaining the necessary endorsements, agreements and permits, extension of the procurement procedure durations."[1]

Financing

In October 2020, Transgaz agreed a loan of €74 million (US$87 million) from Romanian Commercial Bank to finance the Onești-Gheraesti-Letcani pipeline project as well as the company's interconnection project between the National Gas Transmission System and the international gas transmission pipeline T1 and reverse flow at Isaccea Phase II (Onesti – Silistea).[5] Romanian Commercial Bank is a subsidiary of Austria's Erste Bank. In July 2020, Transgaz also agreed a 300 million lei (approximately US$75 million) loan with Banca Transilvania to finance its general working capital needs.[6]


Articles and resources

References

  1. 1.0 1.1 1.2 1.3 1.4 European Network of Transmission System Operators for Gas (November 25, 2020). "TYNDP 2020 Annex A.2 – Project Tables". ENTSOG. Retrieved December 2, 2020.
  2. European Network of Transmission System Operators for Gas (October 2020). "TYNDP Transmission Map" (PDF). ENTSOG. Retrieved December 3, 2020.
  3. European Network of Transmission System Operators for Gas (November 25, 2020). "TYNDP 2020 Annex A.2 – Project Tables". ENTSOG. Retrieved December 2, 2020.
  4. "Romania will build two gas pipelines Onesti-Gheraesti and Gheraesti-Letcani with a total length of 169 km, which will be connected to the Iasi-Ungeni gas pipeline", InfoMarket, Sep. 19, 2017
  5. 5.0 5.1 "Funding agreement concluded with Romanian Commercial Bank", Bucharest Stock Exchange, Oct. 29, 2020
  6. "Romania's Transgaz signs 360 mln lei (74 mln euro) loan deal with BCR", SeeNews, Oct. 30, 2020

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External resources

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