Slovakia lent €100m to upgrade gas networks

Slovakia has been granted a loan worth €100 million (£79.3m) to upgrade the nation’s gas distribution infrastructure. The Slovak Gas Distribution Company will use the cash to replace old pipelines, […]

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By Priyanka Shrestha

Slovakia has been granted a loan worth €100 million (£79.3m) to upgrade the nation’s gas distribution infrastructure.

The Slovak Gas Distribution Company will use the cash to replace old pipelines, reconstruct stations and update key information technology systems and metering equipment.

The upgrades will help the company meet the current “strict environmental and safety requirements”, the European Investment Bank (EIB) said.

Mr László Baranyay, EIB Vice-President responsible for lending in Slovakia said: “Modernising the gas distribution network will contribute to the increased reliability and safety of the gas supply in Slovakia to better meet current and future gas demand.

“At the same time, the project will have environmental benefits by reducing methane leaks corresponding to the avoidance of some 19,000 tonnes of CO2 equivalent a year.”