“This consultation is being organized to review funding. We expect the EBRD Board of Directors to discuss funding to be made before the end of 2018. In addition to the EBRD, the European Investment Bank (EIB) will also discuss credit spreads of 1.5 billion euros for TAP in February 2018, “the Azerbaijani media writes, monitored Monitor.
Earlier, it was announced that the EBRD is expected to distribute EUR 500 million to the TAP project by the end of 2018.
“We expect the EBRD Board of Directors to discuss the project before the end of 2018. Currently, the project is in the right stage of structuring. It is not our practice to comment on the stages of project preparation or their time, but we can say that the project is progressing according to the plan, “said a source for the EBRD for Trend.
The TAP project has passed the review of the concept and is now awaiting review of the structure by the EBRD. The Loan Beneficiary is the consortium of TAP AG. In addition to the EBRD, the EIB will also discuss the distribution of credit of 1.5 billion euros to TAP in February 2018.
TAP, worth 4.5 billion euros, is part of the Southern Gas Corridor, which is one of the priority energy projects for the European Union. The project envisions gas transportation from Azerbaijan’s Shah Deniz Phase to EU countries.
The pipeline will be connected to the Anatolian Pipeline TANAP, at the Turkish-Greek border, then run through Greece, Albania and the Adriatic Sea before coming to the shore, south of Italy.