pipeline

Romania plans to speed up the signing of a trilateral agreement with Azerbaijan and Georgia for the participation in White Stream 2 pipeline project, targeting the transport of liquefied gas from Georgia to Europe via Constanta harbor, Economy Minister Adriean Videanu said Tuesday.

Romanian gas pipeline operator Transgaz Medias’s (TGN.RO) contribution to the Nabucco project, amounting to EUR417 million, will be guaranteed by the state, according to a draft executive decision approved Wednesday.

Shareholders of the Nabucco gas pipeline consortium will be allowed to use 50% of the pipe’s capacity, while the rest will be used by companies transporting natural gas to Europe, according to the intergovernmental agreement signed Monday in Ankara, Turkey.

The Romanian Government Sunday evening approved the memorandum which mandates Prime Minister Emil Boc to sign on behalf of Romania the intergovernmental accord on the Nabucco natural gas pipeline and the political declaration of the five states involved in the project in Ankara (Turkey) on Monday.

A new leak sprung in the oil pipeline cracked yesterday in Arges county, flooding with some one ton of crude oil two households and four farmlands and one fishing lake.

A pipeline of Romania’s largest vertically integrated oil company Petrom (SNP.RO) cracked Wednesday morning in Arges county, southern Romania, flooding households and lands and polluting Cotmenita stream.

Romania backs the implication of Gaz de France (GdF) and Kazakhstan in the construction of the Pan-European Oil Pipeline linking Romania and Italy, said Viorel Palasca, state secretary in the Ministry of Economy and Finance.