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    Reference: 20180836
    Release date: 12 May 2020

    Promoter – Financial Intermediary

    JSC FOR PERFORMING ENERGY ACTIVITIES NATIONAL ENERGY RESOURCES SKOPJE IN STATE OWNERSHIP

    Location

    Description

    The project concerns the construction in North Macedonia of a gas interconnection with Greece, identified as a Project of Mutual Interest by the Energy Community. The Greece side is covered by the project "GAS INTERCONNECTOR GREECE-NORTH MACEDONIA GRPART 2019-0190".

    Additionality and Impact

    The project concerns the construction of a 68 km gas pipeline in North Macedonia, part of the 123 km gas interconnector between North Macedonia and Greece. The investment is a key energy infrastructure for North Macedonia that will help mitigate market failures in the energy sector, by ensuring security of supply, diversification of energy sources, increased competition via integration of energy markets and economic, social and territorial cohesion by linking North Macedonia, a pre - accession country, with the region and EU. The project is aligned with national objectives and priorities. It is also in line with EU policies, being indicated as a Project of Mutual Interest according to the EU Energy Community and being included as a flagship project in the Economic and Investment Plan for the Western Balkans. The most important economic and social benefit stems from the security of supply feature. The EIB's involvement ensures that NER JSC has access to funding and helps mobilising EU grant funds, both for investment and technical assistance, by signalling that the project is good and worth supporting, thereby facilitating its full financing and implementation. The Bank's presence ensures compliance with EU policies and international standards, offering valuable technical advice.

    Objectives

    The main objective of the project is to enable security of gas supply for North Macedonia, through a diversification of gas sources and access routes. The project will also pave the way for further integration of the national gas market and infrastructure within both the Western Balkans region and the EU.

    Sector(s)

    • Energy - Transportation and storage

    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Proposed EIB finance (Approximate amount)

    EUR 41 million

    Total cost (Approximate amount)

    EUR 58 million

    Environmental aspects

    It is required the project compliance with the national Environmental Impact Assessment (EIA) legislation that has been drafted by transposing EU EIA Directive 85/337/EEC, amended by directives 97/11/EC and 2003/35/EC will be verified during the appraisal. With regards to regulations concerning the protection of habitats, respective EU Directives (92/43/EEC and 79/409/EEC) are considered to be transposed, subject to verification during the appraisal. A social assessment will also be undertaken as part of the appraisal.

    Procurement

    The promoter has to ensure that any procurement procedures are done in accordance with the EIB's Guide to Procurement and the relevant applicable EU public procurement rules.

    Status

    Signed - 22/12/2021

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    North Macedonia Energy