Transgaz, Romgaz, Gazprom Might Partner Up To Store Gas In Romania

The representatives of the three companies plan to develop new natural gas transit capacities, having in mind the South Stream gas pipeline project of Russia’s Gazprom.

"We have analyzed the possibility to collaborate in storing natural gas in Romania, developing the country’s current gas transit capacities and building some new ones, taking into consideration the South Stream gas pipeline project initiated by Gazprom," Transgaz general manager Ioan Rusu said Wednesday, at the end of his meeting with Gazprom representatives.

The next meeting between Transgaz and Gazprom officials was scheduled for December.

Last week, Minister of Economy and Finance Varujan Vosganian said Romania is ready to support the construction of both EU-backed Nabucco and South Stream gas pipeline projects.

South Stream is a project estimated at EUR10 billion, led by Russian Gazprom and Italy’s ENI, aiming to construct a gas pipe for the delivery of Russian natural gas towards Europe.

Gazprom has already inked deals with Bulgaria, Serbia, Greece and Hungary for the development of the South Stream project. Slovenia and Austria might as well participate in the project.

Analysts say that South Stream, with an annual gas transport capacity of 30 billion cubic meters of natural gas, is a way to increase Russia’s domination over gas deliveries towards Europe.

South Stream is seen as a competitor for the EU-backed Nabucco pipeline project, which aims to supply natural gas from the Caspian Sea to Central Europe via Turkey and Romania, bypassing Russia.

A Russian daily wrote last week that Gazprom takes into consideration the possibility to include Romania in the South Stream project, replacing Bulgaria, a state that creates difficulties and delays the construction of the gas pipe. Transgaz officials denied afterwards the information and said they never discussed with Gazprom about including Romania in the South Stream project.