Bucharest, February 23 - Neftegaz.RU. The legacy contract Transgaz with Russia's Gazprom Export for gas transit through the Negru Voda - Isaccea 3 pipeline connecting Bulgaria to Ukraine via Romania was terminated by the mutual consent of the parties.
Romanian gas transmission system operator Transgaz said February 22, 2021 in a report sent to the Bucharest Stock Exchange.
The agreement for the termination of the legacy contract valid until the end of 2023 was signed following intense negotiations between the EC, Transgaz and Gazprom Export regarding the gas transmission through the T3 transit pipeline on the territory of Romania to 3rd countries,
This agreement creates the prerequisites for the application of the European regulatory framework for gas transmission capacity booking through the T2 and T3 transit pipelines.
At the same time, it ensures the optimal protection of Transgaz' financial interests arising from the legacy contract for gas transmission through the T3 transit pipeline.
The agreement also creates the necessary framework for the conclusion of the Interconnection Agreements for Isaccea 2, 3 and Negru Voda/Kardam 2, 3 Interconnection Points, ensuring the free access of 3rd parties to capacity booking on the T2 and T3 transit pipelines.
Moreover, it ensures the collection of the remaining amounts to be paid from the legacy contract and it creates the premises for increasing the use of the Romanian gas transmission infrastructure.
Transgaz has a 25 year old contract with Gazprom for natural gas transportation through 3 gas pipelines in the region of Dobrogea, in the southeast of Romania.
The Romanian GTS was part of the western gas transportation corridor, through which Russian gas was supplied to the south of Europe - through Ukraine, Moldova, Romania, Bulgaria, to the west of Turkey, Greece and other countries of the region.
After the launch of Turkish Stream pipeline in early January 2020, gas transit through Romania was stopped, and the Trans-Balkan gas pipeline was switched to reverse mode.
Romania, along with Bulgaria, Greece, North Macedonia, Serbia, Bosnia and Herzegovina, began receiving gas from the 2nd line of the Turkish Stream international gas pipeline.
Romania's Transgaz terminates legacy contract with Gazprom for gas transmission
Transgaz has a 25 year old contract with Gazprom for natural gas transportation through 3 gas pipelines.