Azerbaijan, Baku, March 28 / Trend /
The Trans Adriatic Pipeline (TAP) project submitted a comprehensive transportation bid to the Shah Deniz consortium, said in report of TAP.
The DSP will be assessed by the Shah Deniz consortium as part of the project selection process.
The Consortium's decision on which pipeline will be selected in June of this year.
TAPs submission responds directly to the selection criteria defined by The Consortium: commerciality, project deliverability, scalability, operability, financial deliverability, engineering design, alignment and transparency and other
TAP proposal therefore includes hundreds of documents ranging from technical to commercial, financial to environmental, and from government policy to Corporate Social Responsibility and stakeholder management.
"We are confident that our project has submitted the most compelling offer and in doing so, successfully meets selection criteria set out by The Consortium" TAP Managing Director Kjetil Tungland said.
According to him, the most notable achievement, being the recent signing of the Intergovernmental Agreement between Italy, Greece and Albania on 13th February 2013. TAP can now rely on a strong and robust legal framework to the satisfaction of project investors and The Consortium.
"TAPs characteristics remain unrivalled - our shareholders are world leading energy companies. TAP is the shortest and most direct solution, and consequently the most technically and commercially viable option. Our pipeline is truly designed with the future in mind", Tungland said.
TAP project 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. TAP's initial pipeline capacity will be 10 billion cubic metres per year, but it is easily expandable to 20 billion cubic metres per year.
TAP's shareholders are AXPO of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent).