ECONOMY


European Investment Bank to loan BOTAS $270M for TANAP

Baku, July 29, AZERTAC

The European Investment Bank approved a $270 million loan for Turkey's state-owned crude oil and natural gas pipelines and trading company, BOTAS, for the Trans Anatolian Natural Gas Pipeline (TANAP) project.

BOTAS will repay the loan debt over 18 years of which the first five will be non-refundable.

TANAP, with investments of over $7 billion, is the largest section of the $40 billion Southern Gas Corridor project.

The Southern Gas Corridor project includes the Shah Deniz - 2 field, South Caucasus Pipeline and TANAP. Azerbaijan, Georgia, Turkey, Bulgaria, Greece, Albania and Italy are countries that are involved in the 3,500-kilometer-long project.

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