BRUA gas pipeline project phase 1 completed with 21 pct economy over value auctioned (Transgaz)

The project of the BRUA gas pipeline, the first phase, concluded at the value of 377.4 million euro, 21 pct, or 101.1 million euro, more economical than the value at auction, according to a release of Transgaz sent on Wednesday to the Bucharest Stock Exchange (BVB). "The 'Development on Romanian territory of the National System for Natural Gas Transport on the Bulgaria-Romania-Hungary-Austria' project (BRUA project - phase 1) was completed on November 30, 2020 and now, after the recently received tranche of the 179.32 million euro grant received from the European Climate, Infrastructure and Environment Executive Agency (CINEA) we are able to announce the following: the BRUA project - phase 1 has concluded at the value of 377.4 million euro (value calculated at the current euro rate), namely a 21 pct economy (101.1 million euro) over the value auctioned of 478.5 million euro; reported at the average euro rate in the project's completion phase, the value is of 387.8 million euro, which means an economy of approximately 19 pct (90.7 million euro)," the quoted release mentions. According to Transgaz, the BRUA gas pipeline phase 1 has presently its entire transport capacity reserved on the direction towards Hungary, through the interconnection point in Csanadpalota (Hungary) and is transiting natural gases entering Romania from Bulgaria, through the interconnection point at Kardam (BG) - Negru Voda 1 (RO). The capacity transported presently through the BRUA gas pipeline - phase 1 is of 4.6 million cubic meters per day, which means an annual volume of 1.68 billion cubic meters, namely a load ratio of the transport pipeline of 96 pct. "Once phase 1 of the BRUA project was finalized, the following objectives were met: fulfilling commitments towards the European Commission, commitments inscribed in Decision C (2020) 1232 of 06.03.2020, namely to ensure the maximum available capacity to network users of natural gas exports from Romania towards Hungary and Bulgaria; ensuring on the direction of Bulgaria of a transport capacity of 1.5 cubic meters per year natural gas; the development of a transport capacity ton the direction of Hungary of 1.75 billion cubic meters per year; ensuring the gas supply security of Romania through access to new gas sources; the diversification of sources to provide natural gases to European countries; transport through Central European markets of the natural gas reserves in the Caspian sea," the quoted release also shows. Once the BRUA gas pipeline is made operational, Romania is connecting to the regional transport corridors and will be able to ensure its supply of natural gases from new sources, which will satisfy in a higher degree the demand existing on the internal market and will lead to a higher level of predictability and energy security for the Romanian consumer, the quoted source says. At the same time, the BRUA (Bulgaria-Romania-Hungary-Austria) phase 1 also means a way to access European markets for the potential natural gas production of natural gases extracted by Romania from the Black Sea.AGERPRES(RO - author: Andreea Marinescu, editor: Nicoleta Gherasi; EN - author: Razvan-Adrian Pandea, editor: Maria Voican)