Azerbaijan: Trans Anatolian Natural Gas Pipeline Project (TANAP) (AIIB-000011)

Countries
  • Azerbaijan
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 1, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Southern Gas Corridor Joint Stock Company (SGC)
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 600.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2017-03-01 exchange rate.
Loan Amount (USD)
$ 600.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 8,600.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2017-03-01 exchange rate.
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 15, 2019

Disclosed by Bank Nov 15, 2016


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Project Description

This project finances the Trans-Anatolian Natural Gas Pipeline, part of the larger internationally-sponsored Southern Gas Corridor Program. This project involves a large scale natural gas pipeline that will transport natural gas from the Shah Deniz 2 field in the Caspain Sea in Azerbaijan through Turkey and eventually to Europe.

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

The World Bank is also investing $800 million, and other international finance institutions (including the European Bank for Reconstruction and Development and the European Investment Bank) are investing another $2.1 billion.

Contact Information

AIIB:
Project Team Leader: Hari Bhaskar
Project Team Leader/Senior Investment Operations Specialist Tel: +86 10 8358 0167
Email: hari.bhaskar@aiib.org

World Bank:
Task Team Leader: Kari J Nyman
Task Team Leader
Tel: +1 (202) 458 1469
Email: knyman@worldbank.org

Borrower:
Afgan Isayev
General Manager
Southern Corridor Joint Stock Company (SGC) Tel: +994 12 521 30 92
Fax: +994 12 521 18 75
Email: afgan.isayev@sgc.az

Implementing Agency:
Yilmaz Ozturk
Accounting Manager
TANAP Natural Gas Transmission Company (TANAP) Tel: +90 312 999 1132
Fax: +90 312 999 11 12
Email: Yilmaz.ozturk@tanap.com

ACCOUNTABILITY MECHANISM OF AIIB


In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB’s policies, “people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank’s oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism.” However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.