EU bank supports Polish gas pipeline extension

The European Investment Bank (EIB) is supporting a Polish gas pipeline project which is expected to play a key role in the development of the integrated gas network in Europe. […]

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By Priyanka Shrestha

The European Investment Bank (EIB) is supporting a Polish gas pipeline project which is expected to play a key role in the development of the integrated gas network in Europe.

It is providing a €98 million (£54.4m) loan to expand the pipeline that stretches from Lwowek to Odolanow to western Poland – “crucial to enhancing the security and flexibility of the transmission system” in the nation and neighbouring countries, according to the EIB.

The project is also expected to offer the possibility of transporting increased gas volumes within the EU.

László Baranyay, EIB Vice-President responsible for lending in Poland said: “The project will add capacity and robustness to the existing Polish gas transmission system and allow better connectivity to new gas supplies.

“At the same time, this loan confirms the contribution of the EIB to the modernisation of the Polish energy sector, necessary for the successful economic development of the country”.

Construction of the pipeline is expected to be completed by 2017.