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    Reference: 20190190
    Release date: 12 May 2020

    Promoter – Financial Intermediary

    HELLENIC GAS TRANSMISSION SYSTEM OPERATOR SA

    Location

    Description

    Construction of the Greek section of the Greece-North Macedonia gas interconnector, 55km in length. The North Macedonian side is covered by the project "GAS INTERCONNECTOR GREECE-NORTH MACEDONIA NMPART".

    Objectives

    The project, only financing the Greek part of the interconnector, will further optimise the use of the Greek national gas transmission system. Additionally, it will enable the North Macedonian part of it to provide security of gas supply and competition between supply sources, by offering diversification of routes and sources.

    Sector(s)

    • Energy - Transportation and storage

    Proposed EIB finance (Approximate amount)

    EUR 25 million

    Total cost (Approximate amount)

    EUR 51 million

    Environmental aspects

    The Greece-North Macedonia pipeline falls under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (amended 2014/52/EU). The EIA included consideration of potential cross-border impacts and the involvement of the competent authority in response to notification of the project under the Espoo Convention.

    Procurement

    The Bank will require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, 2014/25/EU, where applicable, as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

    Status

    Signed - 8/12/2021

    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

    Greece Energy