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| October 20, 2021 |
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S.N.T.G.N. TRANSGAZ S.A. - TGN

Release - Legacy contract termination Gazprom Export LLC

Release Date: 2/22/2021 8:17:02 AM

IRIS Code: 552F2

The National Gas Transmission Company TRANSGAZ SA would like to inform that, for the purpose of applying the European regulations on the T2 and T3 gas transmission pipelines, of the conclusion with the adjacent transmission system operators of the interconnection agreements related to the entry/exit points of such pipelines, the legacy contract for gas transmission through the T3 transit pipeline on the territory of Romania to third countries, concluded with Gazprom Export LLC (GPE) and valid until 31.12.2023, was terminated by the mutual consent of the parties.

The intense negotiations between the European Commission (DG-ENER), Transgaz SA and Gazprom Export LLC materialized in an Agreement for the termination of the legacy Contract between Transgaz and GPE concluded for the gas transmission through the T3 transit pipeline on the territory of Romania to third countries.

This Agreement is of particular importance as it creates the prerequisites for the application of the European regulatory framework for gas transmission capacity booking through the T2 and T3 transit pipelines and 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 for the termination of the legacy Contract between SNTGN Transgaz SA and Gazprom Export LLC 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 third parties to capacity booking on the T2 and T3 transit pipelines, 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.

The National Gas Transmission Company TRANSGAZ SA is the technical operator of the National Transmission System (NTS) and is responsible for its operation under quality, safety, economic efficiency and environmental protection conditions, company listed on the Bucharest Stock Exchange, a transparent company, open to dialogue and good corporate practices, which, in fulfilling its undertaken mission it carries out the gas transmission activity in accordance with the provisions of the European and national laws and regulations in force on gas transmission through pipelines and also with those related to the specific laws of the capital market and corporate governance.

 

COMMUNICATIONS DEPARTMENT



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