Release date: 4 July 2008
Promoter – Financial Intermediary
Medgaz S.A.Avda. del Partenón 10, Planta 3;
28042 Madrid; Spain
www.medgaz.com
Location
Description
Construction and operation of a new deepwater pipeline to transport natural gas under the Mediterranean Sea over 210 km from Algeria (Beni Saf) to Spain (Almeria).
Objectives
The project is a priority TEN-e project of European interest and located on a priority axis for Trans-European Energy Networks. The project will contribute to meeting Spain’s growing gas demand and will also play a role in reinforcing the security of EU energy supply.
Sector(s)
Proposed EIB finance (Approximate amount)
Loan of up to EUR 500 million on own resources (Mediterranean Partnership Facility II).
Total cost (Approximate amount)
The project cost is estimated by the promoter at approximately EUR 1 000 million.
Environmental aspects
An environmental study addressing the entire project, i.e. international waters, Algerian and Spanish landfalls, was prepared in 2004. Following modifications, separate environmental impact assessments have been finalised and approved for the Spanish and Algerian landfalls in 2006. The Spanish landfall is close to, but outside, the Cabo de Gata-Nijar Natural Park. The Algerian landfall at Beni Saf and the location of the compressor station do not involve significant impacts on the environment.
Procurement
All large contracts have been awarded following announcements in the EU Official Journal and pre-qualification of suitable contractors.
Status
Signed - 23/11/2010
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).