TAP’s Italian shareholder inks €135M financing with EIB
By Trend
Italy’s Snam company, which is one of the shareholders of the Trans Adriatic Pipeline (TAP) project, has signed a 135 million euros financing with the European Investment Bank (EIB), Trend reports citing Snam.
The agreement envisages financing for various projects aimed at replacing and modernizing some pipelines and plants for natural gas transport and storage, said the Italian company.
“The goal is to make the Italian gas network safer and more efficient and flexible. The financing, with a fixed-rate of 1.372 percent and expiring in December 2038, is part of the company’s strategy of optimizing its financial structure, as it is complementary to bonds and bank credit lines and has a longer duration and competitive cost,” reads the message.
Snam company is constructing an interconnection between the receiving terminal of TAP and its gas network.
The works for the construction of the Melendugno-Brindisi pipeline began on January 12, as scheduled.
TAP Interconnection is the gas pipeline (extending for round 55 Km) from TAP PRT (Pipeline Receiving Terminal) in Melendugno (LE) to the existing Snam Rete Gas network in Brindisi/Mesagne and crossing the municipalities of Melendugno, Vernole, Castrì, Lizzanello, Lecce, Surbo, Torchiarolo, San Pietro Vernotico, Brindisi.