Asian and European lenders supported the means of gas field Shah Deniz
August 10, 2015
Asian and European lenders provided a financial package worth $ 1 billion. It is expected that these funds will be used for financial support for a natural gas field in Azerbaijan, which will provide the diversification of Europe's energy sector. Asian Development Bank and the European Bank for Reconstruction and Development, with the support of the Black Sea Trade and Development Bank, announced the funding of the second phase development of the field Shah Deniz, that the coast of Azerbaijan.
The ADB said the project is crucial in ensuring energy security of Europe. "This project is one of the highest priorities for the EU's energy sector," said the head of the EBRD's Energy and Natural Resources Ricardo Puliti. "It is the key to energy security as it provides diversification of gas supplies", he said.
Recall that the majority of Russian gas supplied to Europe, is pumped through the Ukrainian pipeline network of the Soviet era. Protracted conflicts in Ukraine with the Kremlin created a risk for the European energy sector.
August 10, 2015
"UA-Energy.org"