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Transgaz completed the Climate and Decarbonization Strategy

13 January 2024

Transgaz developed the Climate and Decarbonization Strategy, with a view to the phased transition to a climate-neutral activity and strengthening resilience to climate change, taking into account best practices and national and international policies and regulations regarding climate change.

Developed with the support of the European Investment Bank (EIB), the project was developed in the context of the European Investment Advisory Hub (EIAH).

According to a press release from Transgaz, the general objective of the strategy is dual, referring to decarbonization and climate aspects. Thus, the decarbonization strategy includes: comprehensive assessment of the carbon footprint of the current operating process; ambitious quantitative short- and medium-term emission reduction objectives and the actions proposed at a high level and the necessary measures to achieve these objectives; long-term decarbonisation options; explanation of the role of compensations and their impact on interested parties; the stakeholder engagement strategy, including Transgaz’s possibilities to cooperate with stakeholders (downstream and upstream of the natural gas transportation system) in projects that contribute to decarbonization; necessary actions on the part of Transgaz to meet national and international (climate-related) requirements and regulations, such as the National Integrated Energy and Climate Change Plan.

The climate strategy involves: the high-level assessment of climate vulnerability for Transgaz and its main stakeholders; necessary actions, so that Transgaz aligns with the EU Taxonomy and the EU Directive on corporate sustainability reporting, as well as the requirements provided for in the Alignment to the Paris Agreement for Counterparties (“PATH” framework) of the EIB; assessment of investment needs, potential investment sources and their eligibility.

“The implementation of the projects contained in the approved National Gas Transportation System Development Plan 2022 – 2031, in accordance with the measures identified in the Decarbonization Strategy, will contribute substantially to the decarbonization of natural gas transportation activities carried out by SNTGN Transgaz SA, in the following period , when natural gas will remain a transition fuel for a long time.Developed in accordance with the EIB’s PATH framework and in close collaboration with key stakeholders, the Transgaz Climate and Decarbonization Strategy complies with both national and international regulations in the field climate change, as well as with broader areas of environmental management,” the company’s press release states.

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