The board of directors of the European Bank for Reconstruction and Development (EBRD) will consider on October 18, 2017 allocation of the credit in the amount of 500 million dollars for project implementation of the Trans-Anatolian pipeline (TANAP), it is said in the statement of bank distributed on Friday.
As it is noted, these means will be provided to CJSC "Southern Gas Corridor".
The total cost of the TANAP project constitutes 8,6 billion dollars. For financing of the project the credits from the World Bank (800 million dollars) and the Asian Infrastructure Investment Bank (600 million dollars) have been already allocated. The possibility of financing of the project is also considered by the European Investment Bank.
The TANAP pipeline will be laid from the Georgian-Turkish border to the western border of Turkey. TANAP together with other gas pipeline - Transadriatic (TAP) - is a part of the Southern Gas Corridor project which provides gas transportation from the Azerbaijani field "Shah Deniz" to Europe.
Initial handling capacity of the TANAP pipeline, as expected, will make 16 billion cubic meters of gas a year. About six billion cubic meters will be delivered to Turkey, and the rest - to Europe. After completion of the construction of the Transadriatic gas pipeline (TAP) gas will arrive to Europe approximately at the beginning of 2020.
Shareholders of TAP are: BP - 20 percent, SOCAR (State oil company of Azerbaijan) - 20 percent, Snam - 20 percent, Fluxys - 19 percent, Enagás - 16 percent, Axpo - five percent.