home . news & publications . Investment News . European Commission to Financially Support TANAP Project

European Commission to Financially Support TANAP Project

The European Commission will allocate 3.5 million euros worth financial aid for the project for construction of TANAP via which Azerbaijani gas will be delivered to Turkey and then to Europe, said the message from TANAP.

These funds will be used for supporting the commercial activities and the integrated facility management system.

"The European Commission considered TANAP's request for allocating financial aid expedient, since it is included in the European Union's List of Projects of Common Interest (PCI) and will allocate 3.5 million euros as part of the aid," said the message.

It is the fourth grant allocated by the European Commission for TANAP.

"Taking into account the latest amount, the total volume of funds allocated by the European Commission for the project's implementation will be 10.3 million euros," said the message. "To date, 2.5 million euros have already been spent for TANAP."

TANAP project, worth $9.2 billion, envisages transportation of gas of Azerbaijan's Shah Deniz field from Georgian-Turkish border to the western borders of Turkey. The gas will be delivered to Turkey in 2018, and after completion of the Trans Adriatic Pipeline's (TAP) construction, the gas will be delivered to Europe in early 2020.

TANAP shareholders are Azerbaijan's state oil company SOCAR (58 percent), BOTAS (30 percent), and BP (12 percent).

Source: Trend

Back to top

subscribe

events view our upcoming events.

network follow us.



   facebook  linkedin  twitter

 bp
anglo-asian ata-holding
azpetrol statoil
bny_melon azertrans
chevron_logo conocophillips
  ibar exxonmobil
 solar-turbines boeing-logo-website
 
  
 
           
        
   
 
 
         pg
    ekvitasocaraqs            
          ge