Release date: 10 April 2013
Promoter – Financial Intermediary
The promoter is the largest gas storage operator in Italy.Location
Description
Investments for the development of an underground gas storage facility in the Lombardy region.
Objectives
Natural gas storage facilities play an important role in providing flexibility and security to the gas system. The project, a priority Trans-European energy network (TEN-E) project, would add further resilience to the Italian gas system by reducing the risk of supply interruption and improving the whole system's management in situations of excess of demand (peak loads) or shortage of supply as well as adding strategic reserve capacity.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 283 million
Total cost (Approximate amount)
EUR 567 million
Environmental aspects
The project has been subject to an environmental assessment as required by the Environmental Impact Assessment (EIA) Directive 2011/92/EU. Authorisation has been granted by the competent authorities in November 2009.
Procurement
The investments under the project are subject to the procurement provisions defined in Directive 2004/17/EC for entities operating in the water, energy, transport and postal services sectors.
Status
Signed - 19/07/2013
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).