Automotive Exports – November 2017

Monthly automotive aftermarket magazine
EBRD Board Approves
Financing For TANAP
Trans-Anatolian Natural Gas Pipeline (TANAP) running through Turkey
will form part of the Southern Gas Corridor; the initial annual throughput
capacity will be up to 16 billion cubic meters, which is equivalent to the
annual energy consumption of more than 10 million households in the region
The EBRD Board of Directors
has approved a US$ 500
million regional project that will
help finance the delivery of crucial
energy supplies from the Caspian
Sea through to Europe along the
Southern Gas Corridor (SGC) and
make an important contribution to
energy security and diversification.
The EBRD financing will fund the
completion of the Trans-Anatolian
Natural Gas Pipeline (TANAP) that
passes through Turkey. TANAP
is a key part of the SGC which
will strengthen Europe’s energy
security, promote interconnectivity
and open gas markets. It will also
help provide a better energy
supply mix for consumers in the
Balkans and south-eastern Europe
as well as achieve significant CO2
reductions through the substitution
of obsolete coal-fired power plants.
The Bank’s engagement in the
project will ensure adherence to the
highest environmental standards
and allow continuing extensive
dialogue with all stakeholders of
SGC.
The Southern Gas Corridor includes
gas infrastructure investments into
a 3,500-kilometre pipeline running
through six countries with a total
cost of US$ 40 billion. The key
components are the Shah Deniz
offshore gas field in Azerbaijan,
the Southern Caucasus Pipeline in
Azerbaijan and Georgia, TANAP
in Turkey and the Trans Adriatic
Pipeline (TAP) through Greece,
Albania and Italy. The initial annual
throughput capacity will be up to
16 billion cubic meters, which is
equivalent to the annual energy
consumption of more than 10
million households in the region.
TANAP; A PROJECT TO ADD
STRENGTH TO TURKEY
Building upon the success of
mutual projects between Turkey
and Azerbaijan, the two nations are
taking on a giant project within the
world energy markets. This project is
named the Trans-Anatolian Natural
Gas Pipeline Project (TANAP)
The brother nations of Turkey and
Azerbaijan are working together
to realize this grand project which
aims to meet the natural gas needs
of Europe and Turkey, as well as to
provide gas options to the region.
With priority given to human,
environmental and worker
health and safety, the project
will contribute to add to Turkey’s
strength.
52 NOVEMBER 2017