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EBRD Approved 500 Million EUR Loan for TAP Project

The EBRD board members approved a loan of 500 million euros for the Trans-Adriatic Pipeline Project, which provides natural gas transportation from Azerbaijan to the EU in 2020.

The cost of TAP is 4.5 billion euros and one of the priority energy projects for the EU. The European Investment Bank has already provided a loan of 1.5 billion euros to TAP in February 2018.

To be reminded, the TAP project holds a number of companies like: BP, SOCAR, Snam S.p.A, Fluxys, Enagas and Axp.