[1] On 13–14 March 2008, seven of the region's gas TSOs (Transgaz of Romania, FGSZ of Hungary (subsidiary of MOL), BH-Gas of Bosnia and Herzegovina, Geoplin of Slovenia, OMV of Austria, Plinacro of Croatia and Srbijagas of Serbia)) met in Bucharest, Romania, in order to discuss various strategic and business aspects of the initiative.
The participating companies agreed to start a feasibility study of creating NETS and established four joint working groups to explore the realization of the project.
The Bulgarian, Slovenian and Serbian TSOs also attended the meeting and stated they would consider working together with the other participants in subject to relevant governmental decisions.
Assistance will be provided through the establishment of a working group by ERRA aimed to addressing the regulatory issues of potential regional gas markets, primarily focusing on the NETS project.
Signatories of the MoU (FGSZ, Plinacro, Transgaz and BH-Gas) met on 21 November 2008 to commence preparations to establish the NETS study company.
Central and South-East Europe is characterized by inadequate gas infrastructure[This quote needs a citation], including lack of interconnections between the networks and insufficient storage.
], most gas pipelines in Central and South-East Europe run east–west only, without the level of inter-connectivity found in the West of the European Union.