EIB boosts natural gas in Greece
EIB boosts natural gas in Greece
The European Investment Bank (EIB) is providing further support for the natural gas system in Greece with a EUR 40 million loan to the Hellenic National Gas System Operator (DESFA) S.A., for the extension of a Liquid Natural Gas (LNG) terminal on the island of Revithoussa in the outer suburbs of Athens.
Aimed at increasing reception, storage and output capacity, the investment involves the construction of a third storage tank, upgrading of the marine facilities, installation of additional cryogenic send-out equipment and improvement of the metering system. This is follow-up support to the LNG terminal on Revithoussa, further to a EUR 23 million loan provided by the EIB in 2006.
The EIB started supporting development of the natural gas network in Greece in 1991 and has to date provided a total of EUR 442 million for the gas transmission sector in Greece and the Greece-Turkey gas interconnector. The energy sector is a priority target of EIB activity in Greece and has received finance totalling EUR 4.6 billion since the country’s accession to the EU.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
Helen Kavvadia, Tel.: +352 4379 84486, h.kavvadia@eib.org
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