PRINT

Azerbaijan: Trans Anatolian Natural Gas Pipeline Project (TANAP)

SUMMARY

STATUS
Approved
MEMBER
Azerbaijan
SECTOR
Energy
E&S CATEGORY
Category A
PROJECT NUMBER
000011

FINANCING

PROJECT TYPE
Cofinanced
APPROVED FUNDING
USD600 million
FINANCING TYPE
Sovereign

TIMELINE

LATEST FIELD VISIT
September 2019
CONCEPT REVIEW
November 14, 2016
APPRAISAL REVIEW/FINAL REVIEW
November 29, 2016
FINANCING APPROVAL
December 21, 2016
LOAN CLOSING/LAST DISBURSEMENT
July 31, 2021

OBJECTIVE

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.

DESCRIPTION

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).

PROJECT FINANCING

For more information about project financing, please review the project summary.

ENVIRONMENTAL AND SOCIAL INFORMATION

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.

PROJECT TEAM LEADER

Hari Bhaskar

Senior Investment Operations Specialist, AIIB

hari.bhaskar@aiib.org

 

BORROWER

Afgan Isayev

General Manager
Southern Corridor Joint Stock Company (SGC)

afgan.isayev@sgc.az

 

IMPLEMENTING ENTITY

Yilmaz Ozturk

Accounting Manager TANAP Natural Gas Transmission Company (TANAP)

Yilmaz.ozturk@tanap.com

 

Home Projects Project Summary Project List Project Details Azerbaijan: Trans Anatolian Natural Gas Pipeline Project (TANAP)