INOGATE Programme
Green light for Nabucco appraisal marks important step for EU energy security
An important step has been taken towards a potential financing package of up to €4 billion for the flagship Nabucco gas pipeline project, with today’s signature of a mandate letter that marks the start of the appraisal process for the project.
The mandate letter was signed by the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), IFC (a member of the World Bank Group), the shareholders of Nabucco and NABUCCO Gas Pipeline International GmbH.
Nabucco is the flagship project for meeting future EU gas demand and will diversify Europe’s pool of supplier countries. Nabucco provides a strategic solution by enabling the transport of gas from both the Caspian Region and the Middle East.
The potential financing package will consist of up to €2 billion from the EIB, up to €1.2 billion from the EBRD, and up to around €800 million from IFC.
The EIB press release can be seen here.
| Concerned URL | http://www.enpi-info.eu/main.php?id_type=1&id=22424&lang_id=450 [] |
|---|---|
| Source of information | ENPI-Info |
| Release date | 06/09/2010 |
| Contributor | David Conway |
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