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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
Link to source
Data sheet

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.

Link to source
Summary sheet

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).

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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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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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