Release date: 13 July 2010
Promoter – Financial Intermediary
Edison Stoccaggio S.p.A.
Location
Description
The project consists of the conversion of onshore depleted gas fields into underground gas storages (UGS). The project involves drilling wells, and installing associated processing facilities and pipeline connections.
Objectives
Natural gas storage facilities play an important role in providing flexibility and security of gas supply in a sector characterised by large variations in demand and rigid supply. The project will provide for additional withdrawal capacity during peak demand periods as well as increased working gas capacity. It is a trans- European energy network of Common Interest (Decision 1364/2006/EC - Annex III).
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 270 million.
Total cost (Approximate amount)
Up to EUR 540 million.
Environmental aspects
Given its technical characteristics the project falls under the Annex I of the EC EIA directive (85/337 and amendments). It is understood that the promoter has undertaken EIAs for some of the relevant sites. To be verified during appraisal.
Procurement
The procurement for the project will follow the requirements of EU directive 2004/17/EC as transposed into Italian legislation.
Status
Signed - 10/12/2010
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).