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TAP, Geoplin plinovodi signs MOUC to support natural gas markets in SEE

Oil&Gas Materials 27 September 2011 18:12
The Trans Adriatic Pipeline AG and the Slovenian transmission system operator Geoplin plinovodi signed a Memorandum of Understanding and Cooperation (MOUC) to support the development of natural gas markets in South East Europe (SEE) and to enhance security of supply in this region, TAP reported.
TAP, Geoplin plinovodi signs MOUC to support natural gas markets in SEE

Azerbaijan , Baku, Sept. 27 /Trend, A.Badalova/

The Trans Adriatic Pipeline AG and the Slovenian transmission system operator Geoplin plinovodi signed a Memorandum of Understanding and Cooperation (MOUC) to support the development of natural gas markets in South East Europe (SEE) and to enhance security of supply in this region, TAP reported.

This is the latest in a series of strategic initiatives led by TAP in 2011. Earlier this year TAP concluded similar MOUCs with Croatian TSO Plinacro Ltd, Bosnia TSO BH-Gas, and the governments of Montenegro and Albania, all of which support the Ionian Adriatic Pipeline (IAP) project.

The MOUC between TAP and Geoplin plinovodi provides the Slovenian TSO the potential to access new natural gas supplies from the Caspian region via a new transport route, the report said. Furthermore, this initiative supports the development of the gas market in Slovenia and the wider SEE region by bringing gas supplies to meet their growing demand.

Under the terms of the MOUC, Geoplin plinovodi will participate in the TAP-IAP working group.

This group evaluates areas of potential cooperation, ranging from the alignment of overall schedules and sharing of best practice, to facilitating the mutual understanding of each project's technical requirements.

This will include capacity needs, new construction and upgrades of existing infrastructure, the coordination of maintenance, and environmental and social impact assessments, the report said.

The Trans Adriatic Pipeline is a natural gas pipeline project. The pipeline will transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into western Europe. The project is aimed at enhancing security of supply as well as diversification of gas supplies for the European markets.

The initial pipeline capacity will be 10 billion cubic meters per year. TAP's shareholders are EGL of Switzerland (42.5%), Norway's Statoil (42.5%) and E.ON Ruhrgas of Germany (15%).

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