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    Signature(s)

    Amount
    € 55,000,000
    Countries
    Sector(s)
    Greece : € 55,000,000
    Energy : € 55,000,000
    Signature date(s)
    30/04/2013 : € 25,000,000
    30/03/2012 : € 30,000,000
    Link to source

    Summary sheet

    Release date
    1 September 2011
    Status
    Reference
    Signed | 30/03/2012
    20100173
    Project name
    Promoter - financial intermediary
    Hellenic Natural Gas V

    Hellenic Gas Transmission System Operator (DESFA) S.A.

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 55 million
    EUR 129 million
    Location
    Sector(s)
    Description
    Objectives

    The project consists of extension of national gas transmission system through the construction of some.159 km high pressure pipeline from Aghioi Theodoroi to Megalopolis in Greece. It comprises the installation of two sections of pipeline Aighioi Theodoroi to Examilia (15.6 km) and Examilia to Megalopoli (143.4 km) as well as metering and scraper stations. The project is expected to be implemented until end of March 2013.

    The project is introducing natural gas in the Peloponnesus peninsula, which currently is not covered by the natural gas network. The pipeline will supply a new 850 MW CCGT power plant at Megalopolis also bringing gas to the Korinthos, Argos, Nafplio, Tripolis and Megalopolis areas. The installation of the Megalopolis power plant is a key element for the improvement of security of electricity supply in the Peloponnesus. It will guarantee the stability of the electricity network under peak conditions and will allow the gradual decommissioning of the lignite based generation.

    Environmental aspects
    Procurement

    The project falls by its technical characteristics under Annex II of the Directive 97/11/EC and amendments. Greek authorities have requested an environmental impact assessment for the project. The EIA study has been submitted in 2010. The approval process is at an advanced stage and expected to be finalised in 2011.

    The project falls under Directive 2004/17/EC, requiring tender advertisements and notices in the Official Journal of the EU.

    Link to source

    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).

    News & Stories

    Link to source

    General enquiries and comments

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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.
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