Transgaz Gas Transmission Program (MIGA-15561)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Romania
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 17, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Transport Gaze Naturale “TRANSGAZ” S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 571.17 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 495
Converted using 2026-03-17 exchange rate.
Bank Documents
Corporate Actor Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Oct 2, 2026

Disclosed by Bank Mar 17, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated on the project disclosure page, MIGA is seeking to proceed with underwriting a guarantee for Non-Honoring of Financial Obligations by a State-Owned Enterprise (NHFO-SOE) to support a non-shareholder loan facility from Lenders yet to be identified to Societatea Nationala de Transport Gaze Naturale “TRANSGAZ” S.A. (Transgaz). Transgaz, the sole operator of Romania’s national gas transmission system, is a state-owned technical operator with over 14,000 km pipeline network and a transport capacity of 30 billion m³. The proposed €300 million loan facility will support Transgaz updating of part of its gas transmission network. The proceeds of the MIGA guarantee will be used to finance the development, construction, expansion and management of up to six compressor stations (Podisor, Bibesti, Jupa, Coroi, Vintu, Onesti) as well as the construction of up to seventeen natural gas pipelines (Recas –Horia, Ghercesti – Jitaru, Tantareni – Turceni, Hurezani – Turburea, Mihai Bravu – Silistea, Prunisor – Orsova – Baile Herculane – Jupa, Tetila – Horezu – Ramnicu Valcea, Lugasu – Huedin, Segarcea – Bailesti – Calafat, Sausa – Azomures Targu Mures, Romania – Serbia Interconnection, Ghergheasa – Focsani, Bordosiu – Coroi, Horia – Bors, Sendreni – Onesti, Botorca – Bacia, Gheraesti – Siret) (each a Sub-Project, and together the Project).

The pipelines will have a diameter ranging from 200 to 800 mm and a length from 20 to 180 km, for a total preliminary length of 1000 km. Pipeline construction will involve routing, land  clearance, definition of the right of way with associated regulation of legal relations with affected owners for the rights of use and easement, and trenching activities. Trenches will range from 1 to 1.5m. The pipeswill be then delivered to designated yards, laid out along the right of way, welded together, and inspected for integrity. Once welded sections pass testing, they will be lowered into the trench, padded, and buried. Horizontal directional drilling will be used for sensitive crossings like large rivers. After burial, the area will restored and reinstated, and the pipeline will undergo pressure testing and final commissioning before entering service. Auxiliary infrastructure, like control and monitoring valves and fiber optic cables, will be also installed along the right of way. The average construction time is expected to be around 1 km per month. The upgrade of the compressor stations will include the installation of new turbines, between 5 and 9 MW, and auxiliary services, all within existing footprints. The installation process will include civil works, mechanical installation, testing, and within substation pipeline connection. The turbine installation works will take between 6 and 8 months.  

Some of the Sub-Projects reviewed are ready to move forward with siting and construction, while others are still in the early design phase. All Sub-Projects will occur in similar rural and peri-urban settings, with similar Environmental and Social (E&S) risks and impacts that will be managed through the consistent application of Transgaz Environmental and Social Management System (ESMS). There are no associated facilities for this project. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated on the company's website, the National Gas Transmission Company “TRANSGAZ” S.A., established on the basis of Government Decision No 334/28 April 2000, is a Romanian legal entity having the legal form of a joint-stock company operating in accordance with Romanian law and its Articles of Incorporation. TRANSGAZ' S.A. shares are admitted to trading on the regulated market managed by the Bucharest Stock Exchange, stock symbol TGN, Premium category.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Transport Gaze Naturale “TRANSGAZ” S.A. Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Transport Gaze Naturale “TRANSGAZ” S.A.:

E&S team: cabinet@transgaz.ro

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works