Transgaz of Romania will host the first joint meeting of regional natural gas transmission system operators in Bucharest March 13-14 to discuss the way forward with the recently initiated New Europe Transmission System project by Hungarian gas transmission firm Foldgazszallito Zrt.
Hungarian oil and gas company MOL Nyrt. (MOL.BU) launched Dec. 5 2007 an initiative of its subsidiary, Foldgazszallito, to establish a new joint transmission company to operate an integrated gas pipeline network in Central and Southeast Europe.
The project has been termed the New Europe Transmission System.
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.
Participants will discuss in Bucharest the 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 action to be agreed by all participants.
Janos Zsuga, chief executive of Foldgazszallito said:
"The NETS project is aimed at improving gas supply in Central and Southeast Europe to the benefit of all stake holders and on the basis of a partnership of equals. This project is now gathering momentum. The dialogue amongst the transmission system operators 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," Zsuga added.