The Azerbaijan State News Agency

ECONOMY

European Investment Bank approves EUR 932 million for TANAP

17.03.2018 [21:28]
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Baku, March 17, AZERTAC

Following detailed assessment the Board of the European Investment Bank (EIB) approved EUR 932 million of financing for the 1850km Trans-Anatolian Pipeline (TANAP) to bring natural gas from Azerbaijan’s Shah Deniz-2 gas field to Europe.

Financing for construction of the TANAP pipeline has already been confirmed by the European Bank for Reconstruction and Development (EBRD), the World Bank and Asian Infrastructure and Investment Bank (AIIB).

The project is key component of the Southern Gas Corridor, an initiative identified by the Council of Ministers, the European Commission, and the European Parliament as strategically important for the EU’s energy policy.