EIB approves 932 mln euro loan for TANAP gas pipeline

# 07:34
16 March 2018

The European Investment Bank approved 932 million euros ($1.15 billion) in financing on Thursday for the Trans-Anatolian Natural Gas Pipeline (TANAP), the largest part of a $40 billion project to bring new gas supplies to Europe, Reuters reported.


The so-called Southern Gas Corridor is expected to bring around 16 billion cubic metres per year to Europe by 2020 from the Shah Deniz 2 field in Azerbaijan via TANAP through Turkey, the South Caucasus pipeline extension through Georgia and the Trans-Adriatic Pipeline (TAP) to Greece, Albania and Italy.


Shah Deniz 2 is one of the world’s largest gas fields and is developed by a BP-led consortium.