Romanian Transgaz shareholders reject 1.9 bln euro investment plan

Societatea Nationala de Transport Gaze Naturale Transgaz SA

12/03/2019 13:58

March 12 (Reuters) - Romanian state-owned gas pipeline
operator Transgaz  ROTGN.BX 
    * Says shareholders rejected its 1.9 billion euros  ($2.14
billion) investment programme for 2018-2027 at a meeting on
Tuesday.
    * Says shareholders requested that further information
regarding
investments and affordability be added to the plan.
    * Investment plan included works on a natural gas pipeline
backed
by the European Union to connect Bulgaria, Romania, Hungary and
Austria (BRUA). Then three phases of building BRUA are estimated
to cost 479 million euros, 69 million euros and 530 million
euros, respectively.
    * Investment plan also includes domestic pipeline meant to
transport future gas from offshore perimeters in the Black Sea,
worth 360.4 million euros.

Further company coverage:  ROTGN.BX 
($1 = 0.8866 euros)

 (Reporting by Luiza Ilie)
 ((luiza.ilie@thomsonreuters.com; +4021 527 0312; Reuters
Messaging: luiza.ilie.thomsonreuters.com@reuters.net))