Midia Gas Development Project
Romania | Energy- Identification Code:
- OP/18/0068
- Total Operation Cost:
- — EUR
- Maturity:
- 72 months
- Operation Status:
-
BSTDB Approved Amount – Approval Date15.000.000 EUR – 18 Feb 2021
-
BSTDB Signed Amount – Signed Date-15.000.000 EUR – 21 Feb 202315.000.000 EUR – 05 May 2021
-
Status:Cancelled
- Description and Purpose of the Operation:
- The Black Sea Trade and Development Bank (BSTDB) has provided a EUR 15 million loan for the Midia Gas Development Project (MGD) to develop the Ana and Doina gas fields offshore Romania.
- Countries of Operation:
- Romania (100,00%)
- Financial Product:
- Loans
- Sector:
- Energy
- Domain:
- Private
- Borrower/Client:
- Black Sea Oil and Gas S.A. Petro Ventures Resources S.R.L Gas Plus Dacia S.R.L.
- Co-Financers/Participants:
- European Bank for Reconstruction and Development, Credit Agricole, Societe Generale, Banca Comerciala Romana, Raiffeisen Bank International and BRD Group Societe Generale.
- Guarantors/Sponsors:
- CIEP Participations S.a r.l. SICAR, Petro Ventures Romania B.V. Gas Plus International Holding S.R.L.
- Developmental and Regional Cooperation Impact:
- The operation will further contribute to the developments of the local economy, boost investment, create new employment and generate additional tax and royalty revenues for the State budget. It will also contribute to Romanian export.
- Environmental Classification and Impact:
- Category A requiring a full Environmental and Social Impact Assessment (ESIA) process, and public disclosure of the relevant E&S information of at least 30 calendar days before it may be submitted to BoD. The project related E&S information has been publicly disclosed on the Bank’s webpage and the Bank did not receive any comments, grievances or complaints from any stakeholders or general public interested in the project. The Due Diligence concludes that the Operation, due to its nature, sector, and location could potentially generate significant E&S risks and impacts, however the Borrower has developed comprehensive plans and measures to safely manage these risks and impacts. This includes Environmental and Social Action Plan (ESAP) that cover drilling, development, production, management and maintenance of the Ana and Doina gas fields and the pipeline both offshore and onshore; the Environmental and Social Management Plan (ESMP); the Biodiversity Management Plan (BMP); Stakeholder Engagement Plan (SEP); Livelihood Restoration Framework (LRF); and the Framework Biodiversity Action Plan (BAP). Still, some impacts will need further detailing and assessment such as the cumulative impacts, especially with regard to emissions considering the proximity to the GTP of an oil refinery; disposal of the drilling cuttings in the sea and the impact on the marine environment; the impacts of the onshore segment of the pipeline on the local tourism during construction and the value of land plots; as well as proximity of the offshore pipeline to the military shooting range. These issues however are not likely to be material.
- Operation Leader:
- Energy & Infrastructure
- E-mail:
- ei@bstdb.org
As of 28 Feb 2026
