Baku, Azerbaijan, Apr.4
By Leman Zeynalova – Trend:
The European Bank for Reconstruction and Development (EBRD) will hold an open house Apr.12 on the Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe, said a message from the bank.
“This consultation is being organized to allow the public to raise questions and provide input on TAP and EBRD’s role directly to our representatives so that these opinions can be considered in our decision on whether to provide financing to the project,” said the bank.
The format of the open house will be informal providing interested stakeholders the opportunity to raise any questions in relation to the TAP project and the management of its environmental and social impacts (including land-acquisition and compensation), understand EBRD’s Environmental and Social Policy and the steps the bank has taken to ensure TAP’s compliance with this policy and engage directly with EBRD representatives.
“The EBRD is committed to promoting environmentally sound and sustainable development in the full range of our investment activities. We conduct in depth review as well as detailed monitoring of the projects in which we invest,” said the message.
EBRD plans to allocate loans worth up to 1.2 billion euros for the Trans-Adriatic Pipeline (TAP) in 2018.
“The amount expected will be in the range of up to 500 million euros in a direct loan and up to 700 million euros in a syndicated loan, subject to final internal approvals. It’s expected to be approved towards the middle of the year,” Bruno Balvanera, EBRD Director for the Caucasus, Moldova and Belarus, earlier told Reuters.
TAP, worth 4.5 billion euros, is a part of the Southern Gas Corridor which is one of the priority energy projects for the EU.
TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field to the EU countries.
The pipeline will be connected to the Trans-Anatolian Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.
TAP’s shareholders are: BP (20 percent), State Oil Company of Azerbaijan (20 percent), Snam (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).
TAP will be 878 kilometers in length (Greece 550 km, Albania 215 km, Adriatic Sea 105 km, and Italy 8 km). Its highest point will be 1,800 meters in Albania’s mountains, while its lowest point will be 820 meters beneath the sea.
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