EBRD considers opportunity of participation in TAP and TANAP

Azerbaijan, Baku, July 15 / Trend A. Akhundov / The European Bank for Reconstruction and Development (EBRD) is considering an opportunity of participation in financing of the Trans-Adriatic Gas Pipeline (TAP) and the Trans-Anatolian Gas Pipeline (TANAP) projects, the EBRD president Suma Chakrabarti said at a press conference on Monday. "These projects are very important for Azerbaijan and the entire region," Chakrabarti said. "Azerbaijan can play an important role in Europe's energy security through these projects. We consider this possibility and discuss the prospects for cooperation in this sphere with the Azerbaijani government. Before making a decision, a wide range of issues must be discussed and much work must be conducted." The consortium of Azerbaijani Shah Deniz field development officially announced the selection of TAP as the route to transport its gas to Europe. Another pipeline vying for Azerbaijani gas transportation to Europe was Nabucco West. The TAP project is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to the south of Italy and further to Western Europe. TAP's initial pipeline capacity will be 10 billion cubic metres per year, but is easily expandable to 20 billion cubic metres per year. TAP's shareholders are AXPO of Switzerland (42.5 per cent), Norway's Statoil (42.5 per cent) and E.ON Ruhrgas of Germany (15 per cent). The TANAP project envisages gas transportation from the Shah Deniz field to Europe via Turkey. The initial capacity of the pipeline is expected to reach 16 billion cubic meters per year. Around six billion cubic meters will be delivered to Turkey and the rest to Europe. Do you have any feedback? Contact our journalist at agency@trend.az