Release date: 16 June 2004
Promoter – Financial Intermediary
Statoil ASA
Forusbeen 50
4035 Stavanger
Norway
Contact: Mr Egil Steinberg
Location
Description
The project is an integrated gas production and importation scheme that includes the subsea development of the Ormen Lange gas field (100km off the coast of mid-Norway) combined with an onshore gas processing plant and a 1,200km gas import pipeline to a receiving terminal at Easington, UK. The import pipeline is routed via the Sleipner nodal platform, thus offering the flexibility of importing Ormen Lange gas to mainland Europe as well as importing gas production from other Norwegian gas fields into the UK eventually supplying some 21 bcm p.a.
Objectives
The project is an Energy-Trans European Network (TEN) of common interest. It will represent a new source of gas supply to the UK gas market, which is expected to become a net importer of gas from 2007, and will increase the UK security of supply. The capacity of the project is equivalent to about 20% of current UK gas consumption.
Comments
Environment and TEN.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 200 million.
Total cost (Approximate amount)
Estimated to be about NOK 66 billion.
Environmental aspects
The project falls under Annex I of the Environmental Impact Assessment (EIA) Directive. The promoter has confirmed that detailed EIAs, including public consultation, have been carried out. The EIA and the proposed mitigating and monitoring measures will be reviewed in detail during appraisal as well as the risk analysis and the promoter’s operating safety policies.
Procurement
Previous experience with similar projects in Norway has shown that contracts are awarded after formal international tendering or international consultation of pre-qualified firms. The promoter is a subscriber to the Aquiles joint qualification system, which establishes common vendor lists after regular publication of pre-qualification notices in the OJ of the EU. The system is recognised to be in line with the EU procurement regulations.
Status
Signed - 17/12/2004
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).