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Home > Archives for TANAP

TANAP

EU Ombudsman launches investigation into financing of Europe’s largest fossil fuels project

December 17, 2020

The European Investment Bank (EIB) has dangerously downplayed the contribution of the controversial Southern Gas Corridor to the unfolding climate crisis, according to a complaint that prompted the European Ombudsman to open a formal inquiry.


Funding flows into Eurasian gas pipelines

July 13, 2018

The World Bank Group has issued a guarantee for a US$1.1bn syndicated loan for the huge Trans-Antolian Natural Gas Pipeline (Tanap), which is to transport gas from Azerbaijan to Europe. Source: Funding flows into Eurasian gas pipelines


The EU’s flagship project lacks climate assessment

March 16, 2018

While the EU portrays itself as a leader of the Paris Agreement, its financial arm – the European Investment Bank (EIB) – approves another loan to the controversial Southern Gas Corridor project without proper climate impact assessments.


Controversial Turkish-Azerbaijani gas pipeline gets major EU loan

March 15, 2018

Today the board of directors of the European Investment Bank (EIB) green-lighted a EUR 932 million loan to the Trans Anatolian gas pipeline (TANAP), the Turkish section of the Southern Gas Corridor, a month after handing out the largest ever fossil fuels loan to the western section of the same project.


Pipelinegas so schädlich wie Kohle

February 3, 2018

Erdgas gilt als relativ klimafreundlich und Brücke ins postfossile Zeitalter. Doch Förderung und Transport könnten klimaschädlicher sein als die Kohleverbrennung Source: Pipelinegas so schädlich wie Kohle


More billions for fossil fuels overshadows European development bank’s climate pledges

December 11, 2017

Despite commitments to help address the climate crisis, the European Bank for Reconstruction and Development awarded fossil fuel projects EUR 4.05 billion between 2010 and 2016 – more than double its support for renewable energy during the same period.


The great gas lock-in – industry lobbying is behind the EU push for new gas infrastructure

October 31, 2017

A new report from Corporate Europe Observatory shows why the fire-power of the gas industry makes it a powerful and effective lobbying force in Brussels and national capitals. Meanwhile, public interest groups have a fraction of the resources and access.


Major European loan to controversial Azerbaijani gas pipeline risks fuelling corruption, human rights abuse and climate change

October 18, 2017

A USD 500 million loan approved today by the European Bank for Reconstruction and Development for the construction of the Trans Anatolian Pipeline is set to benefit, among others, state-owned companies in Azerbaijan and Turkey.


Human rights concerns over EIB loan to TANAP

September 12, 2017

The European Investment Bank (EIB) is currently considering financing the Trans-Anatolian Natural Gas Pipeline (TANAP), which will run through Turkey transporting natural gas extracted in Azerbaijan. A group of 24 NGOs are writing to express our concer


Azerbaijan’s Laundromat scandal raises concerns over the EU’s growing business ties with the authoritarian regime

September 6, 2017

Revelations about the Azerbaijani Laundromat corruption scheme raise serious concerns over the EU’s intensifying relationship with the government in Baku and its readiness to turn a blind eye to the country’s human rights abuses and offer loans of millions of euros to a massive gas infrastructure project that would fill the pockets of the Azerbaijani corrupted elite.


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