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Azerbaijan Gets US$500 Million Loan for Gas Transportation

The European Bank for Reconstruction and Development (EBRD) on Wednesday approved a US$500 million loan for a crucial piece of a network of pipelines owned largely by the Azerbaijani government that will transport Azerbaijani gas to Europe. The bank made this decision even though an international oil and gas transparency initiative, endorsed by the bank, recently suspended Azerbaijan because the government would not end its crackdown on civil society groups. Expand Oil derricks are silhouetted against the rising sun on an oilfield in Baku, on January 24, 2013. © 2013 Reuters The bank’s…

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