Southern Gas Corridor

The board of the European Bank for Reconstruction and Development (EBRD) has approved a loan of up to 500 million euros for the construction of the Trans Adriatic Pipeline (TAP), it said in an announcement on Wednesday.

The United States has expressed very strong support for the trans-Anatolian Natural Gas Pipeline Project (TANAP) that will carry natural gas from Azerbaijan to the European continent via Turkey, describing the $8.5 billion-worth project as a strong addition to the energy security of regional countries, including Europe. 

Today, the Southern Gas Corridor, which will transport Azerbaijani gas to Europe, was officially opened, bTV reported.
It is expected that the Caspian blue fuel will reach Bulgaria after 2 years.

The European Bank for Reconstruction and Development Bank (EBRD) announced on May 29 that it had invested 70 million euros to acquire a stake of nearly 25 percent in a Turkish-owned marina company. 

The World Bank has approved two separate loans for Turkey worth $1 billion in total to back a gas storage expansion project and various projects that promote labor market participation for women. 

The European Investment Bank approved 932 million euros ($1.15 billion) in financing on March 15 for the Trans-Anatolian Natural Gas Pipeline (TANAP), the largest part of a $40 billion project to bring new gas supplies to Europe.

The European Bank for Reconstruction and Development plans to allocate loans worth up to 1.2 billion euros for the Trans-Adriatic Pipeline (TAP) this year, part of a $40 billion project to bring new gas supplies to Europe, an EBRD official said.

Energy Minister Temenujka Petkova will participate in the fourth meeting of the Consultative Council for the construction of the Southern Gas Corridor, which is held today in Baku.

The gas corridor will connect Europe and Azebradian.

The EU's dependence on gas imports will increase to 83% in 2040 compared to the current 70%. This was stated by EU Commissioner for Energy and Climate Miguel Arias Cañete in the European Parliament's plenary session in Strasbourg on Thursday.

Azerbaijan, via its state energy company SOCAR, is ready to engage in Bulgaria's gasification at its own expense. The statement was made by the President of Azerbaijan Ilham Aliyev on the occasion of a visit by the Prime Minister of Bulgaria Boyko Borissov to the central Asian country, EurActiv reports.