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    Reference: 20150676
    Release date: 23 March 2016

    Promoter – Financial Intermediary




    Construction of a gas pipeline through Turkey for transportation of natural gas from Shah Deniz production field in Azerbaijan to European and Turkish markets.


    Constructing and operating gas infrastructure and transmission in conformity with the priorities of the EU Energy Security Strategy, the TANAP project will play a key role in diversifying the supply of natural gas to European markets and in meeting natural gas demand in Turkey.


    It is anticipated that the borrowers of the operation will be BOTAS BORU HATLARI ILE PETROL TASIMA AS and SOUTHERN GAS CORRIDOR CJSC.


    • Energy - Transportation and storage

    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Proposed EIB finance (Approximate amount)

    USD 270 million (EUR 219 million)

    Total cost (Approximate amount)

    USD 6960 million (EUR 5639 million)

    Environmental aspects

    The promoter has carried out an environmental and social impact assessment (ESIA) including a land acquisition and compensation plan according to national and international standards. The project's environmental permit has been issued and construction has already started. The expected impact should be well managed through appropriate construction practices. The detailed assessment of all the environmental and social documentation will be conducted by the Bank during its appraisal process for this project.


    TANAP is an entity owned 88% by publicly owned/controlled shareholders in Turkey (30%) and Azerbaijan (58%) established to build and operate a gas transmission pipeline from the Turkey-Georgia border to the Turkey-Greece border. As the promoter has been granted special or exclusive rights and operates in a non-liberalised market, procurement under the project to be financed by the Bank is considered as a public sector operation as defined in the Bank's Guide to Procurement. The promoter is required to ensure that it has conducted its procurement in accordance with the Bank's Guide to Procurement.


    Signed - 20/12/2018


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Turkey Energy