European Investment Bank funds Transmed pipeline

04 December 2007
The European Investment Bank is lending Eur 185m ($272m) to fund the expansion of the Transmed pipeline.

The pipeline transports gas from Algeria, through Tunisia to Italy where it enters the European grid.
The loan is being granted by the Facility for Euro-Mediterranean Investment and Partnership to Italy’s national power company Eni, which operates the Tunisian part of the pipeline. The capacity in this section is being expanded by 16 per cent to 33.5 billion cubic metres a year.
Through its subsidiary, the Trans-Tunisian Pipeline Company, Eni is overseeing the construction of two compressor stations and expanding three existing stations in Tunisia.

The additional capacity is expected to come on line by October 2008.

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