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TAP satisfied with interest shown in financing project

TAP satisfied with interest shown in financing project

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Date: 21 December 2015 15:27

Baku, Azerbaijan, Dec. 21

By Aygun Badalova - Trend:

The Trans Adriatic Pipeline AG (TAP) is satisfied with the level of interest shown in financing the project.

“Energy projects such as TAP remain reliable, long-term commercial investments and I am very pleased with the level of interest shown in supporting the TAP project,” said Ian Bradshaw, Managing Director at TAP, whose words are published on TAP official website.

TAP has organized an introductory meeting in London, where the representatives of over 20 leading project finance banks attended.

TAP is planning to raise limited recourse finance from multilateral agencies, export credit agencies and commercial banks in 2016, according to TAP’s report.

Senior TAP management, together with the company’s shareholders’ representatives, and TAP’s financial and legal advisers, Société Générale and Allen & Overy, emphasised the robust project rationale, provided an update on recent progress and introduced the project financing schedule.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe.

The approximately 870 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

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