EBRD may allocate loan to TAP

Baku, February 17 AZERTAC 

The European Bank for Reconstruction and Development (EBRD) is still considering a loan for co-financing the planned Trans-Adriatic Pipeline (TAP), but the process has not yet been finalised, Ksenia Manyushis a principal banker at the EBRD told.

TAP is a part of Southern Gas Corridor which envisages transportation of natural gas from the second phase development of Shah Deniz gas and condensate field in Azerbaijan to Europe.

TAP pipeline which will stretch across 870-kilometer will be connected to the Trans Anatolian Pipeline (TANAP) on the Turkish-Greek border and run through Greece, Albania, the Adriatic Sea and the southern part of the Italy.

Its initial capacity will be 10 billion cubic meters of natural gas per year, expandable to 20 billion cubic meters.

The groundbreaking ceremony of TAP pipeline will be held in Greece on May 17, 2016.

The realization of this pipeline project will increase energy security of the EU and contribute to its policy to diversify the routes of energy imports.

The construction of the pipeline will bring the Caspian region closer to Europe and strengthen ties between them.

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