15 April 15

Are we completely aware of the financial support of EU bodies to LNG-related projects?

 

lng bun sld

In the recent article “An EIB Perspective on the European Commission Directive Clean Power for Transport” the EIB recalls its role in providing financial support to projects that better assist the sector to cope with the environmental challenges and encourage, in line with EU legislation, the development of clean technology such as LNG-related ones.

One of the most recent projects the Bank has been involved with is the construction of two LNG powered ferries for Fjord Lines, but there are many other examples of EIB’s direct support to LNG-related projects also on the infrastructure side. Just to mention a few of them in the passed year, EIB has given further support for the natural gas system in Greece with a EUR 40 million loan to the Hellenic National Gas System Operator (DESFA), for the extension of the Revothoussa LNG terminal. More recently, a joint venture between Dutch port operators Gasunie and Royal Vopak has closed a EUR 76 million project financing deal with the EIB to fund construction of new break bulk infrastructure and services at their Gate LNG terminal in the Port of Rotterdam, of which EUR 38 million will be provided directly by the EIB, with the remainder supplied by a syndicate of four banks via an additional guarantee facility.

Then we have surely many other funding instruments to support the introduction of LNG technology and bunkering Infrastructure, going from the Work Programme for the development of Motorways of the Sea (MoS) within the Trans-European Transport Network (TEN-T), to the Eur 80 billion Horizon 2020 Programme.

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