News & ASX Releases

Lombardy Region Grants Environmental Approval for Bezzecca

March 3, 2014

Po Valley Energy Ltd (ASX: PVE) is pleased to advise that the Environmental Impact Assessment (EIA) for its Bezzecca gas discovery has been formally approved by the Lombardy Region regulatory authorities. The EIA approval is a critical step in the awarding of a final production concession.

The physical infrastructure to bring the Bezzecca gas field into production involves a 7 km gas pipeline to connect the field to the existing Vitalba gas plant. Pipeline installation will commence immediately upon the award of the production concession. Design and planning are well advanced. The pipeline is now estimated to cost in the order of €3.1 million and will be funded through a combination of operating cash flow and the recently completed reservoir financing facility with Nedbank.

The awarding of the EIA is a significant milestone towards bringing our third field into production.

Sara Edmonson
Po Valley Energy
+39 06 4201 62 75

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