Russian giant Gazprom eyes Romania for constructing underground gas storage facilities

Gazprom deems Romania plays an important role in transiting the Russian gas to Balkan countries. The volume of the gas transit through Romania increased last year with almost 2 billion cubic meters against 2006, company officials mentioned.

“Construction of underground gas storage facilities on the territory of Romania is an important element of the Russian-Romanian cooperation in the gas sphere. It could allow to provide consumers with reliable gas supply during winter period and with more effective utilization of gas-transporting capacities,” company officials said.

Following discussions between the Romanian state-owned gas company Romgaz and Gazprom at the beginning of March last year, regarding the gas deposit which was supposed to be build in Neamt County, Romgaz proposed Gazprom to found a joint-venture to finance the feasibility study. Gazprom rejected the idea.

Costs for the feasibility study exceed 2 million U.S. dollars and will be covered by Romgaz, development manager Gheorghe Radu said in November last year. The study is slated to end in mid 2008 after which discussions regarding the collaboration with Gazprom will be resumed.

Source: NewsIn