Transgaz

Bulgaria and Romania will construct a back-up natural gas pipeline under the Danube river. This was announced by the transmission system operator in Bulgaria - Bulgartransgaz on Tueday.

In the beginning of April, Bulgartransgaz and its Romanian counterpart Transgaz signed a contract for the construction of the main gas pipeline of the Danube river undercrossing.

The Austrian company Habau is to complete the long-anticipated first gas interconnector between Romania and Bulgaria by August 2016 after it signed a contract with the gas operators of the two countries - Transgaz and Bulgartransgaz in Sofia on Wednesday.

Bulgartransgaz and Transgaz, the gas transmission operators of Bulgaria and Romania, have signed a contract with Austria's Habau PPS Pipeline Systems SRL for the construction of the last section of a gas gas link between the two southeast European countries.

The gas transmission operators of Bulgaria and Romania, Bulgartransgaz and Transgaz, will sign a contract with Austria's Habau PPS Pipeline Systems SRL for the construction of the section of a gas interconnection under the Danube river.

The signing ceremony will take place on Wednesday afternoon in Sofia, Bulgaria's Energy Ministry announced on Tuesday.

A contractor is expected to be selected in early December for the construction of a gas pipeline interconnection with Romania under the Danube river bed, Bulgaria's Energy Minister Temenuzhka Petkova said on Friday.

Romania and Bulgaria are looking for new builders of the 26 kilometer Giurgiu-Ruse gas pipeline.

The National Gas Transmission Company, Transgaz, will launch a bond issue on minimum 5 years, worth maximum 500 million lei, at maximum 4.5pct fixed interest rate, according to a report submitted on Tuesday to the Bucharest Stock Exchange (BVB).

The future head of Austria's OMV Rainer Seele appears to be planning a new route for Russian gas to Europe bypassing Ukraine jointly with Gazprom, according to Austrian newspaper Die Presse.

Seele will take the helm at one of the most powerful energy companies in central Europe on 1 July to replace OMV's current CEO Gerhard Roiss, who is set to step down at the end of June.

Fondul Proprietatea, a closed-end fund managed by Franklin Templeton, is set to be listed on April 29 on the London Stock Exchange, LSE, in a move to attract new investors to Romania.

Fondul will pay some 4.2 million euro for its secondary listing on the Stoke Exchange, according to the listing prospectus.

The Romanian capital market needs American corporate investors and their global network to get the liquidity and development necessary to attain the status of emerging market, says Bucharest Stock Exchange (BVB) CEO Ludwik Sobolewski.

Photo credit: (c) Grigore POPESCU / AGERPRES ARCHIVE