TAP open to cooperate with ITGI shareholders
Azerbaijan, Baku, Feb. 1 /Trend, A.Badalova/
The Trans Adriatic Pipeline (TAP) is open to cooperate with the shareholders of the Turkey-Greece-Italy gas pipeline project (ITGI), Greek newspaper Kathimerini quoted TAP External Affairs and Communications Director, Michael Hoffmann, as saying, Bloomberg reported.
Hoffmann said that TAP is ready to work with ITGI holders in the event that TAP is chosen by Azerbaijan to transport gas to Europe from the second stage of Shah Deniz gas field development with the pipeline becoming the so-called southern corridor route for transporting Caspian Sea gas into the EU.
TAP, which is one of the projects within the Southern Gas Corridor, is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into western Europe. Gas, which will be produced during the second stage of Azerbaijani Shah Deniz gas condensate field development, is the main supply source for the project.
The initial pipeline capacity of TAP will be 10 billion cubic metres per year, expandable to 20 billion cubic metres per year. TAP's shareholders are EGL of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent).
ITGI involves gas supplies from the Caspian region and the Middle East to the EU countries. The project includes a modernized Turkish pipeline infrastructure, as well as an Interconnector Turkey-Greece (ITG projects) and an Italy-Greece interconnector (IGI). The project shareholders are the Greek company DEPA and Italy's Edison. The total estimated project cost is 1.5 to 2 billion euros.
On Oct. 1, the projects within the Southern gas Corridor (TAP, Nabucco and ITGI) submitted the final proposals to the Shah Deniz Consortium, which will review them in accordance with the previously announced criteria. The decision on the preferable transportation route is expected to be made in the first quarter of 2012. Azerbaijan plans to export 10 billion cubic metres of gas within the Shah Deniz-2 project.