Turkish state-run pipeline company Botas will conduct talks with the European Investment Bank (EIB) and World Bank (WB) to borrow a total of $2 billion to fund its share in the Trans Anadolu pipeline (TANAP), Bloomberg agency reported yesterday quoting the sources familiar with the situation.
The same source reported that the talks have been coordinated with the Turkish Energy Ministry.
“It is expected that $1.07 billion will be allotted by EIB and another $1 billion by WB. The resources will be used to fund share of the Turkish company in TANAP. Both credits will be allotted for a long period, but their conditions are still under discussion. Possibly, the credits will be allotted against security of the state,” said the same source.—0—
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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