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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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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.

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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