EIB to lend €2 billion to TAP

The European Investment Bank (EIB) could potentially lend €2 billion for the Trans Adriatic Pipeline (TAP).

EIB views on TAP

EIB published on its website that the pipeline project has been included in the European Commission's list of 33 priority energy security Projects of Common Interest.

The European Commission has deems it a positive decision to grant the money to TAP: “the overall positive impact for the EU of this investment as it is responding directly to the Security of Supply objective of diversification of gas sources, routes and counter-parties.” However, the Board of Directors of the bank has not approved this.

The TAP pipeline

Natural gas will be transported from Shah Deniz 2 field in Azerbaijan to Europe through the 870 km TAP pipeline, which will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border.

The pipeline’s construction is expected to start in 2016.

Edited from various sources AzerTag, Trend, Azernews, ABC AZ, by Stephanie Roker

Published on 17/08/2015


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