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EU Grants Financial Assistance to TANAP

Source: www.gulfoilandgas.com 8/1/2018, Location: Asia

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The EU Member States agreed on European Commission proposal to invest €48.4 million in several key European energy infrastructure projects using funds coming from CEF Energy (Connecting Europe Facility) during first 2018 Call. This decision also grants financial assistance to TANAP in the amount of €5.044.394 to undertake “Cathodic protection verification and re-modification studies for As-Built design”.

TANAP Natural Gas Pipeline Project is one of 2 natural gas projects which is selected for financial assistance under the first CEF Energy Call for Proposals 2018.

In November 2017 the Commission published its third list of PCIs, which contains 173 projects (of which 53 is natural gas projects). PCIs have access to a total of €5.35 billion in funding from CEF Energy, the EU's €30 billion fund for boosting energy, transport, and digital infrastructure between 2014 and 2020.

Since 2014 up to date the total amount of grants received for TANAP project exceeded €15 million for various activities. Altogether around 30 mln Euro has been received up to date from CEF fund for various work scopes within TANAP and TAP projects.

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