TAP pipeline design under completion - minister
title changed, details added (first version posted at 12:15)
Baku, Azerbaijan, April 15
By Maksim Tsurkov - Trend:
All preparatory work on TAP project will be completed by late May, Italian Minister of Economic Development Federica Guidi said during the Azerbaijani-Italian business forum in Baku April 15.
"We stressed that the TAP project is being formalized," she said. "The last decisions on the design will be taken and preparatory work will be completed by late May."
The minister said that it is an important action for Italy.
"The project implementation is very important for us," she said. "It will significantly strengthen our bilateral relations [with Azerbaijan]. It will allow Italy and the EU diversifying the sources of gas supply and ensuring the energy security of the region."
The TAP project was selected by the consortium of Azerbaijani Shah Deniz field development as the transportation route to the European markets. The approximately 870 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.
TAP's shareholding is comprised of BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
Construction of TAP is planned to begin in 2016. The initial capacity of TAP will be 10 billion cubic meters per year, but it can easily be expanded to 20 billion cubic meters per year as the new volumes of gas come on stream.
Edited by CN
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