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Reference: 20090128
Release date: 24 June 2009

Promoter – Financial Intermediary

The promoter is a 100% subsidiary company of a leading integrated oil and gas group in Central and Eastern Europe.

Location

Description

The project concerns consists of 206 km of DN800 natural gas transmission pipeline to be constructed between Városföld and the Croatian-Hungarian border, in order to create bi-directional gas transmission between Hungary and Croatia. The project also includes the construction of two compressor stations, a metering station and a short small diameter branch line. The project will further integrate the EU gas market and provide gas transit capacity from Hungary to Croatia, Bosnia Herzegovina and Italy of up to 7.5 Bcm/year, and in reverse mode gas transit capacity from Croatia to Hungary of up to 5.5 Bcm/year.

Objectives

The project is designed as a bi-directional interconnection between the Croatian and Hungarian gas grids and will contribute to the overall integration of the EU gas grids. It will provide new gas supply options to Croatia and Bosnia Herzegovina (Russian gas through Ukraine-Hungary, or Caspian gas in case Nabucco and/or Southstream materialise) but will also allow Hungary to diversify its gas supply by importing LNG imported in Croatia at the planned Krk terminal.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 150 million.

Total cost (Approximate amount)

Estimated at EUR 307 million.

Environmental aspects

The project falls under Annex II of Directive 85/337/EEC and its amendment. Following the submission of preliminary environmental studies the two regional authorities covering the route of the line both required an EIA. The draft EIS have been prepared and submitted to the regional authorities in May 2009. Public consultations are scheduled for June 2009, and the environmental permits are expected for August 2009.

Procurement

The promoter is defined as a contracting entity in the sense of Article 2 of the new Utilities Directive 2004/17/EC. The project will be implemented under a turnkey EPC contract that was tendered in line with requirement of Directive 2004/17/EC. The EIA’s will be assessed in detail during appraisal including compliance with EU environmental legislation.

Status

Signed - 29/11/2010

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).

Related tags

Hungary Energy