The privatization of Vestmoldtransgaz - the Moldovan energy company that manages the Iasi-Ungheni gas pipeline - is absolutely necessary, said participants in the program “Fabrika” that is produced by Publika TV channel, IPN reports.

Director of the Market Economy Institute Roman Chirca said the privatization is needed because Vestmoldtransgaz does not have enough powers and investment capacities as well as technical personnel. “Vestmoldtransgaz is now an initial form, a project aimed at ensuring energy security at the incipient stage and this company is not a player that can implement this project till the end,” stated Roman Chirca.

Minister of Economy and Infrastructure Octavian Calmac said Vestmoldtransgaz was put on the list of companies that are to be privatized with the aim of attracting international companies to compete with Moldova-Gaz, in which Russia’s Gazprom has a large shareholding. “We aim to transparently privatize this company based on two components: to recoup the investments we made in concert with our development partners at the first stage and to have a firm commitment from those who take part in this privatization to invest at least €93 million during the first two years,” stated the official.

Vestmoldtransgaz was included in the list of 17 companies that will be privatized.