Release date: 21 September 2005
Promoter – Financial Intermediary
National Grid Plc
1-3 Strand
London WC2N 5EH
UK
Contact: M. Cooper
Location
Description
The Project has been identified as a TEN project of common interest by the European Council and comprises the expansion of an existing LNG import terminal on the Isle of Grain. The project aims at providing a cost-efficient solution to supplying natural gas to the UK market, which will benefit from the existing Grain LNG facilities and their 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 gas reserves of the UK.
Comments
Oil and gas.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to GBP 120 million.
Total cost (Approximate amount)
Estimated to be about GBP 355 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 will be implemented under a fixed lump sum EPC contract that was awarded after restricted international tendering of pre-qualified companies.
Status
Signed - 21/11/2005
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).