IREN Granted EIB Loan for Livorno LNG Plant

Italian IREN Energia has been granted a €240 million loan from the European Investment Bank (EIB) to complete a re-gasification plant in Livorno, Italy.

The loan was granted to IREN's subsidiary company, OLT Offshore Toscana, the promoter of the Livorno terminal project, complete the plant. When completed, the plant will have a capacity for expected imports of 3.75bn standard cubic metres annually.

The project will also see the construction of a floating terminal for the import, storage and re-gasification of liquefied natural gas, located around 22 kilometres from the Tuscan coast. The terminal will connect to the national grid through submarine and an overland pipeline measuring approximately 30 kilometres long.

OLT Offshore Toscana holds the permits to build and operate the plant. German company E.ON holds an equal stake in the project at 46.8 per cent, with IREN holding another 46.8 per cent.