Release date: 19 November 2003
Promoter – Financial Intermediary
National Grid Transco Plc
1-3 Strand
London WC2N 5EHUK
Contact: M. Cooper
Location
Description
The project has been identified as a TEN project of common interest by the European Council and comprises the conversion of an existing peak shaving LNG production plant on the Isle of Grain into an importation terminal for LNG. The project aims at providing natural gas to the greater London area, UK’s main gas consumption zone, from LNG imports. This cost-efficient solution benefits much from the existing Grain LNG plant facilities and their existing connection to the national gas transmission system.
Objectives
The Project will provide substantial gas import and peak supply capacity. It is expected to make an important contribution to filling the expected gas supply gap between rising demand and declining indigenous supply of the UK.
Comments
Oil and gas.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to GBP 30 million.
Total cost (Approximate amount)
Estimated to be about GBP 100 million.
Environmental aspects
The schemes included in the project fall under Annex I of Directive 97/11/EC. A full Environmental Impact Assessment (EIA) has been carried out, planning permission has been received, and mitigating measures are applied as appropriate.
Procurement
The project falls under the Directive 93/38/EC and its amendment 98/4/EC. The promoter has confirmed to comply with respective requirements.
Status
Signed - 23/12/2003
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).