BRUA Pipeline (EBRD-49149)

Countries
  • Romania
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 13, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
SNTGN TRANSGAZ SA
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 71.02 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 60 million
Converted using 2017-12-13 exchange rate.
Loan Amount (USD)
$ 71.02 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 60 million
Converted using 2017-12-13 exchange rate.
Project Cost (USD)
$ 566.99 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 479 million
Converted using 2017-12-13 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 20, 2018

Disclosed by Bank Jul 14, 2017


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Project Description

According to EIB website, the project consists of the construction of a new 478 km natural gas trunk pipeline on the Romanian territory, part of Bulgaria-Romania-Hungary-Austria gas pipeline and three compressor stations. Initial capacity of the pipeline is set at 1.75 bcm per annum, which will be further increased in the future to 4.4 bcm per annum. 

It aims to enhance regions energy security by diversifying gas supply routes. Further, it would allow access to the future major gas infrastructure projects such as TAP, gas sources from Central European gas hubs and potential gas transportation from Black Sea deposits. The project is also in line with the Green Economy Transition (GET) initiative of the Bank as it will result in direct and indirect energy efficiency and carbon emissions reductions by modernising the Romanian gas infrastructure and contributing to the switch to gas from more polluting energy sources.

This project 

will help to diversify the regional gas supply from its current limited number of major pipelines by connecting the area with future major gas infrastructure projects such as TAP, gas sources from Central European gas hubs and potential gas transportation from Black Sea deposits. Greater integration of European gas markets will allow competition to develop across borders, producing important economic benefits for consumers and increased security of supply. The project has been designated as European Commission's Project of Common Interest and forms part of the North-South Gas Interconnections in Central Eastern and South Eastern Europe (NSI East Gas) priority gas corridor which includes gas infrastructure for regional connections between and within the Baltic Sea region, Adriatic and Aegean Seas, eastern Mediterranean Sea and Black Sea.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Redi Molla
Email Address: redimolla@gmail.com
Telephone No.: +355 69 258 2402
Website: www.ujesjellesitirane.al
Office Addres: Ujesjelles Kanalizime Tirane, Rruga: Besim Daja, Tirane, Shqiperi

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.