The objectives are to integrate Azerbaijan with regional and European energy markets by strengthening its connectivity and transit role, diversify Azerbaijan’s gas export markets and improve the energy supply security of Turkey and South Eastern Europe.
As a part of the Southern Gas Corridor Program (the Program), the Trans-Anatolian Natural Gas Pipeline (TANAP) Project (the Project) will transport natural gas extracted from the Shah Deniz 2 field located in the Caspian Sea in Azerbaijan across Turkey and then to Europe. Turkey is the host country of the Project.
Due to the Program’s strategic significance, AIIB with the World Bank Group, are supporting the Program with other international financial institutions (IFIs) including the Asian Development Bank (ADB),the European Bank for Reconstruction and Development (EBRD), and the European Investment Bank (EIB).
For more information about project financing, please review the project summary.
The AIIB has decided to use the World Bank’s (WB) Environmental and Social Safeguard Policies (ESSP) since (i) they are consistent with AIIB’s Articles of Agreement and materially consistent with the provisions of AIIB’s Environmental and Social Policy and relevant Environmental and Social Standards; and (ii) the monitoring procedures that the WB has in place to ascertain compliance with the WB ESSP are appropriate for the project. Under the WB ESSP, the project has been assigned Category A given the complexity of the project. The executive summary of Environmental and Social Impact Assessment and the supporting Environmental and Social safeguard documents have been disclosed and posted on the following WB website: http://documents.worldbank.org/curated/en/937361470850514706/TANAP-projects-executive-summary-ofESIA-and-supporting-environmental-and-social-safeguard-documents.
Southern Corridor Joint Stock Company (SGC)
Accounting Manager TANAP Natural Gas Transmission Company (TANAP)