Release date: 12 November 2013
Promoter – Financial Intermediary
The Promoter is a major integrated energy company. Some project components will be carried out by the Promoter under a Joint Venture (JV) with another company, which is also requesting from EIB funding for certain components.Location
Description
Development of gas production in Italy for the security of energy supply.
Objectives
The project will contribute to the development of indigenous resources to supply Italy's energy requirements that would otherwise be met by imports. Increased gas production in Italy will reduce dependence on imports, thereby contributing to improved security of energy supply. The scale of the project is significant and would be expected to contribute positively to economic activity in the zones of implementation.
Sector(s)
- Energy - Mining and quarrying
Proposed EIB finance (Approximate amount)
EUR 1080 million
Total cost (Approximate amount)
EUR 1600 million
Environmental aspects
All new project components fall under Annex 1 of Directive 2011/92/EU and will require a full EIA. Other project components, including side-tracking and workover of existing wells, fall under Annex 2 and have been screened out from requiring full EIAs by the competent authorities.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir. 2004/17/EC and Dir. 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 20/12/2013
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).