Description

In June 2018, MIGA issued an active US$1.1 billion guarantee covering non-shareholder loans from five lender banks to the Azerbaijani state-owned enterprise Southern Gas Corridor CSJC to finance its share of the Trans-Anatolian Natural Gas Pipeline project (TANAP Project). The TANAP Project consists of the construction and operation of the pipeline, a part of the Southern Gas Corridor value chain, which aims to transport natural gas from the Shah Deniz Gas Field in Azerbaijan to Turkey and Europe.