Albanian PM: Implementation of TAP to pave way for implementation of IAP

Photo: Albanian PM: Implementation of TAP to pave way for implementation of IAP / Oil&Gas

Baku, Azerbaijan, Dec.17
By Seymur Aliyev - Trend:

The implementation of Trans-Adriatic pipeline project (TAP) will pave the way for new projects such as the Ionian-Adriatic Pipeline (IAP), Albanian Prime Minister Edi Rama said at the signing ceremony of the final investment decision on Shah Deniz-2 project on Dec.17 in Baku.

"TAP is a huge project, but it will be more enormous when it opens a way for new and innovative joint projects such as the unification of Albania, Croatia, Bosnia and Herzegovina and Montenegro in a joint effort to promote the IAP, which will deliver gas to new markets from the Southern Gas Corridor and its reverse flow," Rama said.

"TAP can be (and we aim to do this with the help of Azerbaijan and our strategic partner Turkey) a source of development not only for Albania , but also for Croatia, Macedonia , Montenegro, and all the other countries of South -Eastern Europe - a region that joins the new era of peace and cooperation," Rama said.

It is not only a chance for the development of Albania's national market that demands support and special contribution of Azerbaijan. Albania should also become a "promoter" of gasification for many countries in the region which still do not have such markets and necessary infrastructure, according to Rama.

"For Albania, TAP is not only a set of opportunities, but also a set of obligations. Our government will present necessary human and material resources, institutional framework for guaranteeing the successful work of TAP project," Rama said.

Southern Gas Corridor is a major project, which is designed to meet the European gas needs for decades to come.

The gas which will be produced in the second phase of Shah Deniz field, is considered as the main source of the Southern Gas Corridor project. A consortium of Azerbaijani Shah Deniz gas condensate field development announced its choice of the TAP project in late June, as a gas transportation route to the European markets.

The final investment decision on Shah Deniz-2 project was adopted in Baku on Dec.17.
Shah Deniz-2 project authorization means the transition of the project from the concept into an immediate implementation stage.

Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas. The cost of the second phase of development of Shah Deniz gas condensate field is estimated at $25 billion.

Within the second phase of development it is planned to produce some 16 billion cubic meters of gas (within the first phase - 9 billion), six billion of which will be transported to Turkey and ten billion to Europe.

Translated by L.Z.

Edited by C.N.

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Tags: Edi Rama, IAP, TAP