Baku, Azerbaijan, Sept.19
By Leman Zeynalova – Trend:
The European Investment Bank (EIB) is currently appraising loans to the Trans Anatolian Pipeline (TANAP) project, a source in EIB told Trend.
Regarding the possibility of discussing TANAP financing during the EIB Board of Directors Sept.18-19 meeting in Sofia, Bulgaria, the source noted that TANAP loan is not in this meeting agenda.
The source said that EIB will carefully review all the issues raised as part of its intense due diligence procedures.
“As for all the projects that it finances, the EIB will apply the highest standards in its technical, economic, financial, and environmental and social assessment of this projects, it will ensure compliance with EU and national laws as well as EIB Environmental and Social Standards,” added the source.
TANAP project envisages transportation of gas from Azerbaijan's Shah Deniz field to the western borders of Turkey. The gas will be delivered to Turkey in 2018 and after completion of the Trans Adriatic Pipeline's construction natural gas will be delivered to Europe in early 2020.
The length of TANAP is 1,850 kilometers, with an initial capacity of 16 billion cubic meters of gas. Around six billion cubic meters of this gas is meant to be delivered to Turkey, with the remaining volume to be supplied to Europe.
The project’s total cost is estimated at $8.6 billion.
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