EIB to offer 932-million-euro loan for Trans-Anatolian Pipeline

16/03/2018 10:57 Natural Gas


The European Investment Bank (EIB) Board decided to provide a loan estimated at EUR 932 million for the 1850 km Trans-Anatolian Pipeline (TANAP) to transport natural gas from Azerbaijan’s Shah Deniz-2 gas field to Europe.

The Shah Deniz Stage 2 project is foreseen to bring gas straight from Azerbaijan to Europe for the first time, launching the Southern Gas Corridor.

Around 16 billion cubic meters of Shah Deniz Stage 2  gas will be provided via more than 3500 kilometers of pipelines traversing Azerbaijan, Georgia, Turkey, Greece, Bulgaria, Albania and under the Adriatic Sea to Italy.

The Southern Gas Corridor, estimated at more than $40 billion, is considered as one of the main energy projects for the EU, which aims the diversification of gas sources. The project plans the transportation of gas from the Caspian region to the European countries via Georgia and Turkey.

At a preliminary phase, the primary source for the Southern Gas Corridor projects is considered the gas produced in the Stage 2 of development of Azerbaijan's Shah Deniz field. Other sources can also link to this project at a later period.

The gas will be exported to Turkey and European markets, as part of the Shah Deniz Stage 2, by extending the South Caucasus Pipeline and the building of Trans-Anatolian Natural Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).

Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.


Ukraine to export natural gas to Moldova without Gazprom's involvement

09/10/2019 09:28:00

The Cabinet of Ministers has instructed NJSC Naftogaz of Ukraine to take measures to ensure natural gas exports to Moldova without the involvement of Russia's Gazprom.