German E.ON Ruhrgas and TAP have mutually beneficial partnership

German E.ON Ruhrgas and TAP have mutually beneficial partnership

Azerbaijan, Baku, May 21 / Trend A.Badalova /

The increase in the number of shareholders of Trans-Adriatic-pipeline (TAP) can significantly increase the chances to implement and contribute to the purchase of the necessary volumes of gas.

Participation of Germany's gas company E.ON Ruhrgas in TAP, which is the world's largest energy company, demonstrates the interest in the project and its viability.

"In our view, TAP is the most promising route for the transportation of gas to southern Europe", chairman of E. ON Ruhrgas board Jochen Weise said.

TAP representatives have repeatedly stated pluses of the project. This is the shortest route connecting the producer with the consumer (length of the pipeline is 520 kilometers), and the effective price ($2,2 billion), as well as quite acceptable initial capacity (10 billion cubic meters that may subsequently be increased to 20 billion cubic meters per year).

Germany is interested in efficiency in terms of prices while concluding the agreement on partnership and joint construction of Trans-Adriatic-pipeline. It is the main quality. "We live in rather hectic time. Therefore, a very effective project in terms of price is required now", he said.

An additional plus for E. ON Ruhrgas will be the possibility of getting benefits while pumping gas, which is available to the parties investing the construction of the pipeline.

E. ON Ruhrgas AG company is the largest distributor of gas in Germany and one of the leading companies in Europe. The company is also responsible for gas transportation business in Europe. It has long-term contracts with gas suppliers such as Russia and Norway.

The company has rich experience in exploitation and construction of pipelines.

Participation of German company in TAP is appreciated by two other shareholders of the project - Norway's Statoil and Swiss EGL, having 42.5 percent each in this project.

Statoil company deputy president for gas Rune Bjornson said that getting of 15-percent-share in TAP project by E. ON Ruhrgas company will enhance its position and the ability to compete for volumes of gas from Azerbaijani field Shah Deniz.

Developed Shah Deniz field is one of the largest in the world. It is expected that gas from the second stage of the development of Shah-Deniz, scheduled for 2016-2017, will form the basis for filling gas pipelines within the Southern Corridor - Nabucco, ITGI, White Stream and TAP. The launching of negotiations on export of gas from Shah Deniz-2 between SOCAR and European shareholders of these pipelines, particularly the TAP, depends on making the investment decision on one of these projects.

Board member and direction for gas supplies in E. ON company Jochen Weise said that the company will be able to further increase its diversified portfolio of supplies by participating in TAP project, and thereby make an important contribution to ensuring security of supply in Europe.

He said that such investments in the European gas infrastructure, along with long-term contracts on gas supplies, are essential for Europe's gas supply in the long-term prospect.

The Trans-Adriatic pipeline, which is a part of the Southern Corridor, is designed to transport gas from the Caspian region and the Middle East to Europe. The pipeline will begin in Greece and pass through the territory of Albania and the Adriatic Sea, later to Italy.

The gas pipeline includes a 115-kilometer-underwater section from Albania to Italy.

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