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16:51 20 February
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TAP: Talks with EIB on funding for TAP are ongoing


Talks with the European Investment Bank on funding for TAP were ongoing, the TAP president Walter Peeraer told Reuters, adding he expected a decision in February.

 

Reports have said the EIB could sign off on a loan of 1.5 billion euros for TAP developers at its board’s meeting in February next year.

 

The 870-km pipeline will link the Shah Deniz II field with Italy, crossing Georgia, Turkey, Greece, Albania and the Adriatic Sea. It is the largest attempt so far to bring new supply sources to European consumers.

 

TAP shareholders include Azerbaijan energy group Socar, oil major BP and Italian gas group Snam.

 

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