Erdgasspeicher

Promoter – Financial Intermediary

E.ON AG

Location

• Germany
• Austria

Description

Investments in existing and new underground storages for natural gas.

Objectives

The objective is to support security of supply and to expand seasonal and peak storage capacity for additional gas volumes from distant traditional and potentially from new supply sources. The programme falls under the category of TEN-Energy projects of common interest.

Sector(s)

• Energy

Proposed EIB finance (Approximate amount)

EUR 500 million.

Total cost (Approximate amount)

Estimated by the promoter at roughly EUR 1900 million.

Environmental aspects

The investments fall under Annex II (underground storage of combustible gases) of the EIA Directive 85/337/EC and its amendments. The promoter informed that following a case-by-case pre-examination of potential impacts the competent authorities concluded environmental impact assessments necessary, due to the particular issues related to the construction, operation and safety of underground gas storages. Such assessments are in place or under preparation at present and do incorporate assessments as required under the Habitats Directive.

Procurement

The promoter is a private entity and it does not possess special or exclusive rights granted by a competent authority for the development and operation of underground storages, which would limit or restrict other interested parties in accessing this market. It therefore considers itself not a contracting authority or public undertaking with regard to Directive 2004/17/EC, and thus not required to apply EU public tendering rules on a mandatory basis. Tendering follows in-house procurement guidelines that provide for transparent and non-discriminatory bidding processes involving international tendering where appropriate.

Status

Signed - 28/11/2008