The Public Service Agency put the Limited Liability Company “EuroTransgaz”, which is the representative office of SA Transgaz Romania in Moldova, on the State Register of Legal Entities, IPN reports.

According to the Ministry of Economy and Infrastructure, among the main objectives of the new business entity are to produce, transport, distribute, store and supply natural gas, to ensure transportation through pipes and storage, and to provide business and management consulting services.

The new company is the representative office of the Joint Stock Company Transgaz of Romania, which takes part in the implementation of the project to interconnect the natural gas systems of Moldova and Romania, including by extending the Iasi – Ungheni gas pipeline up to Chisinau, which is to be put into operation by the end of 2018.

In the first half of this year, SA Transgaz made a net profit of 400.5 million Romanian lei (€87.5m), an increase of 42.1% compared with the corresponding period last year amid the 26% rise in turnover. The company in January-June this year increased its turnover by 26.2% on last year to 1.03 billion lei (about €226m).