The Board of Directors of the European Bank for Reconstruction and Development (EBRD) on October 18 will make a final decision on the allocation of $ 500 million for the Transanatolsky Pipeline (TANAP) project, the total value of which is estimated at $ 8.6 billion.

The EBRD’s press release notes that the World Bank previously approved a decision to allocate $ 800 million for the implementation of TANAP, and the Asian Development Bank allocated an additional $ 600 million for this project.

Attention is drawn to the importance of the TANAP project for ensuring the energy security of Turkey and Europe as a whole.

Attention is drawn to the fact that during the construction of TANAP, more than 9 thousand people will be provided with work, and 300 people will be employed on permanent work.

The share of Southern Gas Corridor JSC in the TANAP project is 58 percent. If the EBRD approves the allocation of $ 500 million, the company’s total investment in the TANAP project will amount to $ 5 billion.

51% of the shares of Southern Gas Corridor JSC belongs to the government of Azerbaijan, 49% – to the State Oil Company of Azerbaijan (SOCAR).

The initial throughput capacity of the TANAP pipeline is expected to be 16 billion cubic meters of gas per year. About six billion cubic meters will be delivered to Turkey, and the rest – to Europe.

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