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    Signature(s)

    Amount
    € 250,000,000
    Countries
    Sector(s)
    Italy : € 250,000,000
    Energy : € 250,000,000
    Signature date(s)
    10/12/2010 : € 250,000,000
    Link to source

    Summary sheet

    Release date
    13 July 2010
    Status
    Reference
    Signed | 10/12/2010
    20090075
    Project name
    Promoter - financial intermediary
    Edison Gas Storage

    Edison Stoccaggio S.p.A.

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Up to EUR 270 million.
    Up to EUR 540 million.
    Location
    Sector(s)
    Description
    Objectives

    The project consists of the conversion of onshore depleted gas fields into underground gas storages (UGS). The project involves drilling wells, and installing associated processing facilities and pipeline connections.

    Natural gas storage facilities play an important role in providing flexibility and security of gas supply in a sector characterised by large variations in demand and rigid supply. The project will provide for additional withdrawal capacity during peak demand periods as well as increased working gas capacity. It is a trans- European energy network of Common Interest (Decision 1364/2006/EC - Annex III).

    Environmental aspects
    Procurement

    Given its technical characteristics the project falls under the Annex I of the EC EIA directive (85/337 and amendments). It is understood that the promoter has undertaken EIAs for some of the relevant sites. To be verified during appraisal.

    The procurement for the project will follow the requirements of EU directive 2004/17/EC as transposed into Italian legislation.

    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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    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 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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