July 27 (LNGJ) - Snam, the owner of the Italian natural gas transmission system Snam Rete Gas as well as storage and an LNG terminal near Genoa, has signed a loan agreement with the European Investment Bank for 310 million euros ($364M) for the financing of projects aimed at developing the national gas system. The loan is over 20 years with interest at 1.5 percent. Snam also recently acquired from energy company Edison its Infrastrutture Trasporto Gas pipeline system, the third-largest in Italy, and its 7.3 percent stake in the Adriatic LNG terminal for 225M euros.
Italian gas upgrade loan
Written by John McKay
Thursday, 27 July 2017
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