EIB Mulls Loan for Greece-N Macedonia Gas Link
The European Investment Bank (EIB) is considering providing €25mn ($27mn) in financing for the construction of a gas link between Greece and North Macedonia, according to a message posted on its website.
The proposed loan would go towards development of the Greek section of the pipeline, whose total cost is €51mn. The project will optimise Greece's gas grid while improving North Macedonia's supply security and diversifying its import mix. It would enable the supply of gas from Greece's Revithoussa LNG terminal and other sources to North Macedonia and potentially onto Kosovo and Serbia.
Under the current plan, the pipeline will run for 120 km and carry up to 2.85bn m3/yr of gas. Its promoters are Greece's Desfa and North Macedonia's MER Skopje.
The EIB's board of directors is yet to approve the loan.