The European Investment Bank (EIB) will grant a €29m loan in order to support the investment program of regional gas distribution company Sonorgás (Sociedade Gás do Norte) in Portugal.
Sonorgás, which is in charge of gas distribution in small areas in the northern part of the country, will use these funds to expand the domestic gas distribution networks. 220 km of distribution pipelines and 19 liquefied natural gas (LNG) storages stations will be built, which will enable Sonorgás to increase its customer base from 16,000 up to 40,000 in the upcoming three years.
The agreement fits into the "Juncker Plan" and is supported by the European Fund for Strategic Investments (EFSI), the milestone of the European Commission's Investment Plan for Europe.
Portugal's distribution network is mainly dominated by Lisboagás (Galp Energia, through Galp Gás Natural Distribuição), Setgás and Lusitaniagás.
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