Financing Approved For Italian Pipelines

September 2012, Vol. 239 No. 9

The European Investment Bank (EIB) and the Italian-based Cassa depositi e prestiti (CDP) approved a 20-year finance contract worth EUR 400 million for Snam Spa.

The loans will be used to help build two gas pipelines in northern Italy and the plant to connect them to the existing grid, aimed at boosting the security of gas supply and giving the network greater flexibility.

The first gas pipeline, 150 km, is located between Poggio Renatico (Emilia Romagna) and Cremona and the second one, 170 km, is between Veneto and Lombardy. The infrastructure work, estimated at EUR 950 million, will improve the transmission network in a strategic geographic area within Italy’s gas system and will include the removal of 300 km of existing pipelines.