BSTDB grants € 15 million loan for the Midia gas development project in Romania
BUCHAREST (Romania), May 6 (SeeNews) – The Black Sea Trade and Development Bank (BSTDB) on Thursday announced that it has granted a loan of 15 million euros ($ 18 million) for the gas development project of Midia in the Ana and Doina gas fields off Romania.
The financing of the project is part of an existing financial package set up by international and national banks, in particular the European Bank for Reconstruction and Development, Crédit Agricole, Société Générale, Banca Comerciala Romana, Raiffeisen Bank International and BRD Group Societe Generale, BSTDB said. in a press release.
The loan is granted to three Romanian companies – Black Sea Oil & Gas, Petro Ventures Resources and Gas Plus Dacia, he added.
Being the first Romanian sea gas production facility off the Black Sea built after 1989, the project will diversify the country’s gas supply sources, the bank said.
Black Sea Oil & Gas is an independent oil and gas company based in Romania, focused on the exploration and development of gas resources. The current portfolio consists of the XV Midia Shallow Block concession in the Romanian Black Sea where it is the operator and has a 70% stake.
Gas Plus is the fourth largest natural gas producer in Italy active in the main sectors of the natural gas industry and has a 10% stake in the concession. Petro Ventures, a private investment group, owns a 20% stake in the concession.
The Black Sea Trade and Development Bank is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. The headquarters of the BSTDB are in Thessaloniki, Greece.
($ = 0.8331 euro)