EBRD: TANAP and TAP are projects with lowest carbon dioxide emissions

Baku. 2 November. REPORT.AZ/ Trans-Anatolian Natural Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP) are the projects with the lowest carbon dioxide (CO2) emissions, Nandita Parshad, EBRD's Managing Director for Energy and Natural Resources, told Anadolu agency.

According to her, TANAP and TAP have been designed accordingly to the criteria of EU and EBRD.

Nandita Parshad said the bank is preparing a new five-year strategic plan. According to her, the bank does not finance coal projects anymore because of the concerns about climate changes and quality of the air and natural gas is an important fuel in struggling climate change.

"Natural gas plays an important role in this field. TANAP and TAP have already become a very optional way for countries without access to natural gas. TANAP and TAP have been designed in accordance with  the EU and the EBRD standards. These are the projects with the lowest CO2 emissions," Parshad said.

She noted that the bank has allocated $500 million for financing of TANAP.

According to her, currently, TAP is on the focus: "TAP will transport natural gas to Greece, Albania and Italy. Thus, there will be a need for investments in new structure in these countries. TAP has also been designed for reverse transportation."

She said that EBRD intends to summarize the issue of allocating €500 million to TAP by the end of this year: "Moreover, other financial organizations under the EBRD are also planned to allocate €500 million to TAP and totally €1 billion will have been allocated to TAP."