News Column

EIB Boosts Natural Gas In Greece

June 11, 2014

BRUSSELS, June 11 -- The European Investment Bank issued the following news release:

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.

TNS 30FurigayJane-140611-4763982 30FurigayJane

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Source: Targeted News Service

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