Release date: 6 November 2002
Promoter – Financial Intermediary
El Behera Natural Gas Liquefaction CompanyLocation
Description
The project promoter will build a greenfield natural gas liquefaction (LNG) plant, located at Idku. The project will comprise a 3.6 million tonnes per annum natural gas liquefaction train, including a tanker loading jetty and other marine facilities.
Objectives
The plant will enable the export of a part of the proven large Egyptian natural gas reserves. The project will thus generate substantial foreign exchange revenues for the country.The project involves technology transfers to Egypt through the participation of two major European companies in the project.The proposed project will encourage trade between Egypt and European countries in a key economic (as well as environmental) sector. From a European point of view, the project would help increase and diversify gas supplies to Europe.
Comments
Oil & Gas
Sector(s)
Proposed EIB finance (Approximate amount)
Up to USD 450 million
Total cost (Approximate amount)
Estimated at approximately USD 1.3 billion
Environmental aspects
The project is subject to a full Environmental Impact Assessment due to its size, technical complexity and location. An Environmental Impact Assessment has been carried out. Mitigating measures to be applied, if any, and compliance with relevant legislation will be assessed during appraisal.
Procurement
Procurement procedures would comply with the Bank’s procedures for private-sector projects.
Status
Signed - 19/12/2003
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).