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    Signature(s)

    Amount
    € 500,000,000
    Countries
    Sector(s)
    Austria : € 215,000,000
    Germany : € 285,000,000
    Energy : € 500,000,000
    Signature date(s)
    28/11/2008 : € 215,000,000
    28/11/2008 : € 285,000,000

    Summary sheet

    Release date
    30 September 2008
    Status
    Reference
    Signed | 28/11/2008
    20080090
    Project name
    Promoter - financial intermediary
    Erdgasspeicher
    E.ON AG
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 500 million.
    Estimated by the promoter at roughly EUR 1900 million.
    Location
    Sector(s)
    Description
    Objectives

    Investments in existing and new underground storages for natural gas.

    The objective is to support security of supply and to expand seasonal and peak storage capacity for additional gas volumes from distant traditional and potentially from new supply sources. The programme falls under the category of TEN-Energy projects of common interest.

    Environmental aspects
    Procurement

    The investments fall under Annex II (underground storage of combustible gases) of the EIA Directive 85/337/EC and its amendments. The promoter informed that following a case-by-case pre-examination of potential impacts the competent authorities concluded environmental impact assessments necessary, due to the particular issues related to the construction, operation and safety of underground gas storages. Such assessments are in place or under preparation at present and do incorporate assessments as required under the Habitats Directive.

    The promoter is a private entity and it does not possess special or exclusive rights granted by a competent authority for the development and operation of underground storages, which would limit or restrict other interested parties in accessing this market. It therefore considers itself not a contracting authority or public undertaking with regard to Directive 2004/17/EC, and thus not required to apply EU public tendering rules on a mandatory basis. Tendering follows in-house procurement guidelines that provide for transparent and non-discriminatory bidding processes involving international tendering where appropriate.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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