Slovak natural gas transporter Eustream said it signed a feasibility study contract for the Eastring gas pipeline with Hungarian consultancy and projection company Euroil.
The feasibility study aims to define the necessary technical, economic, financial and environmental aspects of the future gas pipeline connecting the countries of Central and Southeastern Europe, Eustream said in a statement.
Half of the eligible cost of the study will be paid by the European Commission from the Connecting Europe Facility, Eurstream said, adding that it will be completed in June 2018 with its results will serve as the basis for further project decision-making.
Following the signature of the treaty, the first joint working meeting with representatives of Euroil and representatives of the Eastring project - Bulgaria's Bulgartransgaz EAD, Romanian Transgaz SA, Hungarian FGSZ Zrt was held this Tuesday in Bratislava and Eustream.
"We have entered a new phase of the project, which is important in terms of strengthening the energy security of gas supplies in Central and Southeastern Europe," said Eustream general manager Rastislav Nyukowicz.
“Eastring is part of the European List of Projects of Common Interest (PCI) and we are pleased that this important part of the project can be implemented with direct financial support from the European Union.”