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Signature(s)

Amount
€ 500,000,000
Countries
Sector(s)
United Kingdom : € 500,000,000
Energy : € 500,000,000
Signature date(s)
17/12/2004 : € 200,000,000
21/12/2004 : € 300,000,000
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Summary sheet

Release date
16 June 2004
Status
Reference
Signed | 17/12/2004
20040172
Project name
Promoter - financial intermediary
Britpipe Gas Importation (TEN)

Statoil ASA
Forusbeen 50
4035 Stavanger
Norway
Contact: Mr Egil Steinberg

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 200 million.
Estimated to be about NOK 66 billion.
Location
Sector(s)
Description
Objectives

The project is an integrated gas production and importation scheme that includes the subsea development of the Ormen Lange gas field (100km off the coast of mid-Norway) combined with an onshore gas processing plant and a 1,200km gas import pipeline to a receiving terminal at Easington, UK. The import pipeline is routed via the Sleipner nodal platform, thus offering the flexibility of importing Ormen Lange gas to mainland Europe as well as importing gas production from other Norwegian gas fields into the UK eventually supplying some 21 bcm p.a.

The project is an Energy-Trans European Network (TEN) of common interest. It will represent a new source of gas supply to the UK gas market, which is expected to become a net importer of gas from 2007, and will increase the UK security of supply. The capacity of the project is equivalent to about 20% of current UK gas consumption.

Environmental aspects
Procurement

The project falls under Annex I of the Environmental Impact Assessment (EIA) Directive. The promoter has confirmed that detailed EIAs, including public consultation, have been carried out. The EIA and the proposed mitigating and monitoring measures will be reviewed in detail during appraisal as well as the risk analysis and the promoter’s operating safety policies.

Previous experience with similar projects in Norway has shown that contracts are awarded after formal international tendering or international consultation of pre-qualified firms. The promoter is a subscriber to the Aquiles joint qualification system, which establishes common vendor lists after regular publication of pre-qualification notices in the OJ of the EU. The system is recognised to be in line with the EU procurement regulations.

Comments

Environment and TEN.

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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).

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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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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.

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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 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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