According to the Transgaz’s Extraordinary General Shareholders Meeting (EGMS), it was approved that a legal consulting agreement be signed to examine and negotiate terms of membership in both the Three Seas Initiative Investment Fund (3SIIF) and the European Hydrogen Backbone on legal, financial, and commercial grounds.
Members of Transgaz’s board of directors have approved a legal consulting agreement with the Three Seas Initiative Investment Fund in order to analyze and negotiate legal, financial, and commercial conditions for a total of up to $626 million for the development of natural gas and hydrogen transmission infrastructure projects. The legal consulting agreement is estimated to be worth $150,000 in cash.
Transgaz’s membership in the European Hydrogen Backbone (EHB) group and the delegation of signing authority to General Manager Ion Sterian were both approved at the same time.
Key infrastructure projects in the Three Seas region will be financed by the Three Seas Initiative Investment Fund. On the north-south axis in the three countries that make up the Three Seas Fund, investments in transportation, energy, and digital infrastructure are the primary goal of the fund.
Ten countries in the region, including Poland and Croatia, collaborated to form a new organization called the Three Seas Initiative.
