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Dimanic progress in the new gas transmission system project

Press communiqué of FGSZ Ltd. and Transgas SA

New Gas Transmission System project gathers momentum

Transmission companies to meet - taking forward discussions in Bucharest 

(Bucharest/Budapest, 2008-02-20) 

Transgaz of Romania agreed to host the first joint meeting of regional TSO’s in Bucharest on 13-14 March to discuss the way forward with the recently initiated NETS project by FGSZ Natural Gas Transmission Closed Company Limited by Shares, based in Siófok, Hungary.

On 5 December 2007, MOL Plc announced its support for the initiative of its subsidiary, FGSZ Natural Gas Transmission Closed Company Limited by Shares, to establish a new joint transmission company to operate an integrated gas pipeline network in Central and South-East Europe. The project has been termed the New Europe Transmission System (NETS).

Prior to the 5 December announcement, gas transmission companies in a number of countries in the region – including Austria, Bosnia-Herzegovina, Bulgaria, Croatia, Romania, Serbia and Slovenia – were invited to participate in discussions regarding the proposed new business entity.  The initiative remains open to other market players in the region as well, while currently the original participants are considered as founding members of the project to decide on any future strategic and operational issues.

These discussions will now be taken forward with a further meeting of previously involved Transmission System Operators (TSOs) and it will be taking place on 13-14 March 2008, in Bucharest, Romania. The host for the meeting will be the Romanian TSO, Transgaz. Participants will discuss strategic, regulatory, financial and project management issues in workshops and roundtables. The event’s objective is to set a long-term direction with short term actions to be agreed by all participants of the project.

Ioan Rusu, the CEO of Transgaz SA, said:

‘Transgaz welcomed the project from the beginning and is delighted to host the first joint meeting, where finally all participants will have the opportunity to exchange ideas in a structured manner. We are sure, that it will be an exciting event with a constructive dialogue setting future directions.’ 

Dr. János Zsuga, the CEO of the Natural Gas Transmission Plc, said:

‘The NETS project is aimed at improving gas supply in Central and South-East Europe to the benefit of all stakeholders and on the basis of a partnership of equals.  This project is now gathering momentum.  The dialogue amongst TSOs is well under way – and there is strong interest from the European Commission and from national energy authorities. Work needs to be done on implementing a governance structure in accordance with the energy policy objectives of all participants and on regulatory, operational and technical issues.  We aim to report on further progress over the coming few months.‘

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