Brussels, 06/01/2014 (Agence Europe) - At the board of directors' meeting on 17 December last, the European Investment Bank (EIB) approved a loan of €1.3 billion in support of projects to improve security of gas supply in Italy. An initial tranche of €200 million was signed today in Milan with the ENI group, which, with a total share of €1.1 billion, is the main beneficiary of the EIB loan.
The €2.7 billion multiannual investment plan presented by the ENI Group for the Exploration & Production sector in Italy specifically concerns 26 offshore projects. Some of these will be implemented by ENI in a joint venture with Edison (EDF group), which will receive a tranche of the loan totalling €200 million. The projects concern the maintenance and upgrading of existing wells and facilities and the installation of new platforms.
The operation is highly strategic for Italy. Currently, 70% of Italy's gas supply comes from countries that do not belong to the Organisation for Economic Cooperation and Development (OECD), a situation which could present geopolitical risks for energy supply. (OL/transl.jl)