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11:05 19 February
10:48 19 February
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EIB to allocate $1.3B for TANAP

The phase zero TANAP line is 93% complete, General Director of TANAP Saltuk Duzyol told Anadolu agency.

According to him, the natural gas will be pumped in the pipeline from the next year: “The gas will be pumped in the system from the entry point on Turkey-Georgia border for testing”.

 

Hinting at borrowing of $2.5 billion in total from EBRD, WB and ADB, Duzyol said that the consortium has drafted a guaranteed model for repayment of the debt: “This model facilitates work of the financial institutions”.  

 

He added that the European Investment Bank will allocate $1.3 billion to the Southern Gas Corridor CJSC and BOTAS soon: “Following EBRD’s allocation of $500 million to TANAP, EIB’s this step won’t take long”.

 

According to him, $3.950 billion in total has been attracted so far: “According to latest calculations, TANAP budget reduced about $7.9 billion. Unlike previous forecast, we invested $3.8 billion in the project. During realization of such project, there are always two goals ahead: time and financial source. We achieved both of these goals”

 

The General Director noted that more than 13,000 people have been involved in the construction of the project.

 

Starting June 2018, saleable gas will be transported to Turkey, he added.  

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