Azerbaijan, Baku, Jan. 20 / Trend /
The company managing the development of the Trans Adriatic Pipeline project (TAP), designed to transport natural gas from the Caspian region and the Middle East to Europe, has finally registered its permanent offices in Greece, Albania and Italy.
"The opening of the new offices in Greece, Albania and Italy is another sign of TAP's continuous progress. These permanent representations will help us develop stronger relationships with local stakeholders and further create trust in TAP," External relations director of TAP, Michael Hoffmann, said.
The Trans Adriatic Pipeline is planned to start operations in 2011. The gas pipeline will begin in Greece and pass through Albania and the Adriatic Sea to Italy. The pipeline includes a 115-kilometer underwater section from Albania to Italy.
The estimated cost of the construction will amount to $2, 2 billion. The length of the pipeline is 520 kilometers and the initial capacity will be 10 billion cubic meters, maximum 20 billion, per year.
Norway's Statoil and Swiss EGL are shareholders in the project.
According to the German company RWE, the transportation of 1,000 cubic meters of gas per 100 kilometers will be 6,2 euro. The company estimates that the cost of transportation of 1,000 cubic meters of gas from the wellhead of the Azerbaijani gas field, Shah Deniz, to the world sale market via the TAP gas pipeline will hit 104 euro.