The European Investment Bank (EIB) has granted a EUR 175 million loan to Enagás to finance the development of infrastructure under its 2007-2011 Strategic Plan. This is the final instalment of a loan totalling EUR 1 billion approved by the EIB in 2008. EIB Vice-President Magdalena Álvarez and the Chairman of Enagás, Antonio Llardén, signed the loan agreement in Madrid this morning.
The investment plan financed consists of projects forming part of the trans-European energy networks in the gas sector. Its aim is to increase the capacity for liquefied natural gas importation and high pressure gas transmission in various Spanish regions in order to meet the growing demand for gas and improve the conditions of supply.
The investments financed are spread throughout Spain, with 52% located in convergence or transition regions.
This is a direct EIB loan to Enagás on favourable terms of maturity (up to 15 years) and interest rate.