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Southeast Europe
February 9, 2018 www.intellinews.com I Page 15
urge Werner Hoyer, the EIB president, to support a project that the European Union has deemed
as of common interest, namely the Southern Gas Corridor. bne IntelliNews was told that Hoyer was resisting pressure to sign off on the financing.
In a joint statement on February 6, Bankwatch, Counter Balance, Friends of the Earth Europe and 350.org criticised the institutions promoting or financing the corridor for failing to actively publi- cise a climate impact assessment of the project.
“This is symptomatic that the Southern Gas Corridor has been approved without EU institutions disclosing its climate impact,” commented Anna Roggenbuck, EIB policy officer with CEE Bankwatch Network.
“The European Investment Bank is now shame- lessly locking Europe into decades of fossil fuel dependency even as the window for fossil fuel use is slamming shut,” added Colin Roche, extrac-
tives campaigner for Friends of the Earth Europe. “The bank’s biggest ever investment in dangerous fossil fuels undermines the EU’s commitment to climate action when we urgently need to be tran- sitioning to a fossil free future.”
The project is also backed by the European Bank for Reconstruction and Development (EBRD), which announced in December it is providing a €500mn loan to the project operator.
The 878km TAP will stretch from the Greek-Turkish border to Italy after crossing Greece, Albania and the Adriatic Sea. The pipeline will be supplied with natural gas from the second stage of the Shah Deniz gas field development in the Azerbaijani section of the Caspian Sea. Its initial capacity will be 10bn cubic meters of natural gas per annum.
In its latest update in mid-January, operator TAP AG said that around 90% of the pipeline route had been cleared in Greece and Albania.
February 22, 2018, Prague
Cbonds CEE Bond Conference
Cbonds CEE Bond Conference is going to become a special unique event, dedicated to the bond markets in Central and Eastern Europe.
Expected number of participants: 150.
Countries breakdown: CEE countries, Western Europe, the UK, Russia & CIS.
Sector breakdown: buy-side, investment banks, universal banks, bond issuers, infrastructure.
Main topics to discuss:
• Macroeconomic and CEE fixed income analysts panel
• Institutional investors panel • DCM panel
• CEE countries bond markets • High-yield panel
Contacts
Sponsorship:
Sergey Zobov: szobov@cbonds.info, +7 (812)336-97-21 *103
Participation:
Ksenia Ardelyan: ka@cbonds.info +7 (812) 336-97-21 *132