Trans Adriatic Pipeline Project (EBRD-45690)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Albania
  • Greece
  • Italy
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
Jul 4, 2018
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
Trans Adriatic Pipeline AG
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 591.86 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 500
Converted using 2017-12-19 exchange rate.
Project Cost (USD)
$ 5,326.75 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 4500
Converted using 2017-12-19 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 16, 2018

Disclosed by Bank Dec 19, 2017


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Project Description

This project provides financing to Trans Adriatic Pipeline AG for the construction, operation, and ownership of the Trans Adriatic Pipeline (RAP), part of the Southern Gas Corridor. TAP is a 878 km cross-border natural gas pipeline, currently under construction, stretching from the Greek/Turkish border (near Kipoi) to Italy (near San Foca) after crossing Greece, Albania and the Adriatic Sea.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

TRANS ADRIATIC PIPELINE AG
TAP AG is the constructor, owner and operator of the Project. TAP AG's shareholders include: BP (UK, 20% shareholder), Snam SpA (Italy, 20%), SGCC (Azerbaijan, 20%), Fluxys SA (Belgium, 19%), Enagas (Spain, 16%) and Axpo Trading (Switzerland, 5%).

Contact Information

Trans Adriatic Pipeline AG
enquiries@tap-ag.com
+41 41 747 3400
+41 41 747 3401
www.tap-ag.com
Lindenstrasse 2 6340 Baar, Switzerland

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.