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Signature(s)

Amount
€ 43,035,432.51
Countries
Sector(s)
United Kingdom : € 43,035,432.51
Energy : € 43,035,432.51
Signature date(s)
23/12/2003 : € 43,035,432.51
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Summary sheet

Release date
19 November 2003
Status
Reference
Signed | 23/12/2003
20030171
Project name
Promoter - financial intermediary
Isle of Grain LNG Terminal

National Grid Transco Plc
1-3 Strand
London WC2N 5EHUK

Contact: M. Cooper

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to GBP 30 million.
Estimated to be about GBP 100 million.
Location
Sector(s)
Description
Objectives

The project has been identified as a TEN project of common interest by the European Council and comprises the conversion of an existing peak shaving LNG production plant on the Isle of Grain into an importation terminal for LNG. The project aims at providing natural gas to the greater London area, UK’s main gas consumption zone, from LNG imports. This cost-efficient solution benefits much from the existing Grain LNG plant facilities and their existing connection to the national gas transmission system.

The Project will provide substantial gas import and peak supply capacity. It is expected to make an important contribution to filling the expected gas supply gap between rising demand and declining indigenous supply of the UK.

Environmental aspects
Procurement

The schemes included in the project fall under Annex I of Directive 97/11/EC. A full Environmental Impact Assessment (EIA) has been carried out, planning permission has been received, and mitigating measures are applied as appropriate.

The project falls under the Directive 93/38/EC and its amendment 98/4/EC. The promoter has confirmed to comply with respective requirements.

Comments

Oil and gas.

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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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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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