The operator of the national gas transmission system of Romania and the Republic of Moldova announced that the signed document lays the groundwork for negotiations regarding a potential stake in Argent LNG. At the same time, the two companies have signed a confidentiality agreement that will allow them to discuss future investments, according to g4media.ro.
According to Transgaz, the project is of strategic importance, as it aims to ensure long-term access to liquefied natural gas from the United States and to develop the Vertical Gas Corridor — an infrastructure designed to transport gas from non-Russian sources to countries in Central and Southeastern Europe.
The company states that one of its main goals is to transport liquefied natural gas imported from the United States through Romania to the Republic of Moldova and Ukraine, and then on to Hungary, Austria, the Czech Republic, Slovakia, and Germany.
Through this route, authorities aim to diversify supply sources and reduce dependence on Russian gas.
The Argent LNG terminal is under construction in Port Fourchon, Louisiana, USA, and is designed for an annual export capacity of 25 million metric tons of LNG, equivalent to approximately 35 billion cubic meters of natural gas. The first commercial deliveries are scheduled for 2030. Transgaz already operates gas transmission infrastructure in the Republic of Moldova through its subsidiary Vestmoldtransgaz and believes that the development of the Vertical Corridor will strengthen the energy security of not only Romania and the Republic of Moldova, as well as that of Ukraine and other countries in Central and Southeastern Europe.
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