Trans Adriatic Pipeline secures €3.9bn project financing

14/01/2019 09:20 Natural Gas

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The Trans Adriatic Pipeline, which will be laid between the Turkish-Greek border and Italy, aims to bring Caspian natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The pipeline will also have a subsea section of 105km in the Adriatic Sea.

At Kipoi, located along the Turkish-Greek border, the pipeline will connect with the Trans Anatolian Pipeline (TANAP), from which it will cross Greece and Albania and the Adriatic Sea, before reaching ashore in Southern Italy.

 

The financing for the trans-country pipeline will be made by a consortium of 17 commercial banks, alongside the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). The EBRD is offering a syndicated loan of up to €1bn while the EIB is providing €700m.

 

A portion of the financing is also being covered by export credit agencies bpifrance, Sace and Euler Hermes.

 

The trans-country pipeline project, which will have an initial annual capacity of 10 billion cubic meters, makes up the final segment of the $40bn Southern Gas Corridor, a supply route to deliver gas from the Caspian Sea to Europe.

Source: compelo.com

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