Trans Adriatic Pipeline Project (EBRD-45690)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Albania
  • Greece
  • Italy
  • Turkey
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 4, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Trans Adriatic Pipeline AG
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents 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


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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%).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Axpo Trading AG Parent Company -
- - - - BP p.l.c. Parent Company -
- - - - Enagás S.A. Parent Company -
- - - - Fluxys Belgium SA Parent Company -
- - - - Snam S.p.A. Parent Company -
- - - - Southern Gas Corridor Closed Joint-Stock Company Parent Company -
- - - - Trans Adriatic Pipeline AG Client -
- - - - Trans Adriatic Pipeline AG Contractor -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

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.

How it works

How it works