The European Investment Bank (EIB) has granted a loan of EUR 100 million to SPP – distribúcia, a.s. (the Slovak Gas Distribution Company) to finance the security upgrading of Slovakia’s gas distribution infrastructure to meet current strict environmental and safety requirements.
The EIB loan will support the replacement of old pipelines operating under various pressures, the reconstruction of regulation stations and the updating of key information technology systems and metering equipment. The investment schemes are located in various parts of Slovakia.
Mr László Baranyay, EIB Vice-President responsible for lending in Slovakia, commented: “Modernising the gas distribution network will contribute to the increased reliability and safety of the gas supply in Slovakia to better meet current and future gas demand. At the same time, the project will have environmental benefits by reducing methane leaks corresponding to the avoidance of some 19 000 tonnes of CO2 equivalent a year.”
The current operation further develops the successful cooperation between the EIB and SPP – distribúcia, a.s., which began in 2012 with the provision of a EUR 55 million EIB loan to the company to increase the safety of Slovakia’s gas distribution network.
