Trans Adriatic Pipeline (TAP)

Trans Adriatic Pipeline ( TAP ) - DFI/ECA Loans

Industry
Oil & gas/Gas - Upstream (Exploration and production)
Area of finance
Project & Infrastructure Finance
Country
Greece

Deal Overview

As well as the largest Project Financing for European Infrastructure in 2018, TAP is a highly strategic transaction which offering a new source of competitively priced gas for the EU market. The new source of gas will provide diversity and security of supply especially in Southern Europe which is...

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As well as the largest Project Financing for European Infrastructure in 2018, TAP is a highly strategic transaction which offering a new source of competitively priced gas for the EU market. The new source of gas will provide diversity and security of supply especially in Southern Europe which is currently reliant on a single supplier. TAP also promotes economic development and job creation along the pipeline route; it is also a major source of foreign direct investment. With first gas to Georgia and Turkey now being delivered, first deliveries to Europe will follow in 2020. The high-profile transaction has the support and involvement of major O&G players such as BP and Socar as well as ECAs, multilaterals (EBRD and EIB underlining importance to Europe) and 17 international MLAs. The deal has a high level of complexity. The sponsors are a mix of midstream and downstream operators for a start. The scheme runs across different countries and takes gas all the way from Azerbaijan. The financing package is multi-sourced.

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Deal Volume
$ 4.27bn
Financial Close
07 December 2018
Sources
Submitted by participant(s), Proximo article

All Dealmakers

Huillet Thibaud

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Berry Charlotte

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Filippo  Tassoni

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Andrei Volkov

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Peter French

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Daniela Mohtadi

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Luca Lunari

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Emmanuel Lemoine

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Projects

Trans - Adriatic Pipeline ( TAP )

Greenfield
Oil & Gas - Upstream (Exploration and production)
Greece
$ 4.91bn