Snam: EIB and EU loans for 9 LNG stations

13 Jun 2019 - ConferenzaGNL

Snam: EIB and EU loans for 9 LNG stations

Snam has signed a 25 million euro loan with the EIB (European Investment Bank) for the construction of 9 LNG and L-CNG service stations in Italy. The funding is complementary to the European Union contribution disbursed through the CEF (Connecting Europe Facility) program for 1.3 million euros, obtained by Snam4Mobility in December 2018.

The EIB loan also covers the construction of 101 refueling stations for compressed natural gas from the network and / or biomethane. The value of these plants, including 9 LNG plants, is 50 million euros (as per EIB practice, the loan will be at most 50% of the cost of investments).

So far, Snam4Mobility has launched 6 new distributors, one of which is LNG and L-CNG; about 60 are under construction, to build a total of 300 in the coming years. Snam’s commitment in this sector is part of the Snamtec project, launched as part of the 2018-2022 strategic plan and supported by investments of 850 million euros.

The EIB loan has an amortizing structure expiring in December 2031 and a fixed rate of 0.547%. This is the first EIB loan obtained by Snam for Snam4Mobility, the 100% subsidiary of Snam active in sustainable mobility.

Source: Snam

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