ECONOMY


European Commission allocates €5m grant for TANAP project

Baku, July 31, AZERTAC

The European Commission (EC) has allocated a grant worth 5 million euros for the Trans Anatolian Natural Gas Pipeline (TANAP) project, which is part of the Southern Gas Corridor, envisaging transportation of Azerbaijani gas to Europe, said a message from TANAP consortium.

The grant will be allocated under the EC’s Connecting Europe Facility (CEF) Energy Work Program.

European Union countries have undertaken to invest a total of 48.4 million euros in infrastructure projects and TANAP has been one of the two natural gas projects selected for financial support under the program's first call for proposals,” said the consortium.

TANAP, together with Trans-Adriatic Pipeline (TAP), is a part of the Southern Gas Corridor, which provides for the transportation of gas from the Azerbaijani field Shah Deniz to Europe.

The share distribution in TANAP is as follows: Southern Gas Corridor CJSC - 51 percent, SOCAR Turkey Enerji - 7 percent, Botas - 30 percent, and BP - 12 percent.

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