Emergency

Lenders' requirements

Trans Adriatic Pipeline has voluntarily committed to complying with the environmental and social standards required by its international lenders.

TAP is committed to complying with the performance requirements of the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the three export credit agencies as defined in the Project Finance Common Terms Agreement (PFCTA).  

To ensure that the project is developed and operated in accordance with the PFCTA, TAP has completed a process to supplement the national Environmental and Social Impact Assessment (ESIA) process. 

The Supplemental Lenders Information Package (SLIP) and the Environmental, Social and Cultural Heritage (ESCH) management system were also developed in line with the lenders’ requirements. 

Disclosure of SLIP supplements the material already presented to project stakeholders through TAP’s extensive engagement programmes.

TAP completes successful Euros 3.9 billion project financing

As one of Europe’s most strategic projects, TAP successfully completed financial close in December 2018, securing Euros 3.9 billion - the largest project finance agreed for a European infrastructure project in 2018. The financing is provided by a group of 17 commercial banks, alongside the EBRD and the European Investment Bank (EIB). Part of the financing is covered by the export credit agencies - bpifrance, Euler Hermes and Sace.
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Project finance disclosure

TAP is committed to effectively managing the risks and opportunities linked to its associated environmental, social and cultural heritage (ESCH) impacts to health, safety and security, and to delivering benefits to local communities. Our approach to managing these risks reflects the scale and nature of TAP’s activities. 

TAP conducted ESIAs in Greece, Albania and Italy, which were approved by the host countries’ competent authorities in 2013 and 2014. Subsequent amendments to the ESIAs reflecting changes to the project scope were also approved. TAP’s approved ESIAs and amendments are available here.

TAP is committed to complying with the current environmental and social policies of these institutions, namely: 

  • EBRD Performance Requirements (PRs 1 through 6 and 8 through 10)1 as per EBRD's Environmental and Social Policy (2014)
  • EIB Environmental and Social Practices and Standards (2013)
  • IFC Performance Standards (PS 1 through 6 and 8) 2 (January 2012)
  • IFC EHS General Guidelines (2007)
  • IFC Industry-specific Guidelines
  • the IFC EHS Guidelines for Onshore Oil and Gas Development (2007)
  • the IFC EHS Guidelines for Offshore Oil and Gas Development (2015)
  • The Equator Principles III (2013)
  • OECD Common Approaches (2012)