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EIB boosts natural gas in Greece

LNG Industry,

The European Investment Bank (EIB) is providing a €40 million loan to the Hellenic National Gas System Operator (DESFA) for the extension of an LNG terminal on the island of Revithoussa, Athens.

LNG equipment

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 €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 €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 €4.6 billion since the country’s accession to the EU.

Adapted from press release by Katie Woodward

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