Release date: 2 April 2008
Promoter – Financial Intermediary
OLT S.p.A., an Italian registered company set up to develop and implement the project.Location
Description
The project consists of the acquisition of an existing LNG carrier and its conversion into a Floating Storage and Re-gasification Unit (FSRU) with a storage capacity of 137,000 m3 and an annual throughput capacity of 3.75 Gm3/year.
Objectives
The project will increase EU and Italy gas import capacity and contribute to meeting the gap resulting from growing demand and declining indigenous gas production in Italy. It will also enhance the security of supply by allowing imports diversification from a growing number of LNG producing countries and enhance competition in the Italian gas market.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 200 million
Total cost (Approximate amount)
Estimated at EUR 550 to 600 million
Environmental aspects
The promoter has carried out an EIA in line with the requirements of EU directive (85/337/EC) and obtained the relevant environmental permit. The EIA and public consultation process will be reviewed during appraisal.
Procurement
The promoter utilises procurement procedures, which are usual in the industry and are satisfactory to EIB. EU procurement Directives are not applicable.
Status
Signed - 28/11/2011
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).