Minister: TAP project to attract more investment in Azerbaijan, Georgia and Turkey
Azerbaijan, Baku, 28 June / Trend S. Aliyev /
Selection of the Trans-Adriatic Pipeline (TAP) as the route to transport Azerbaijani gas to European markets will create better conditions for investment, the Minister of Industry and Energy Natig Aliyev said at a press briefing.
According to him, the decision on the route will create conditions to attract significant investment in Azerbaijan, Georgia and Turkey in the first instance.
"TAP has received the support of the states. According to the participants of the TAP project, Italy is not the final destination for gas deliveries. It is planned to access Austria and other countries through Italy," Aliyev said.
According to the U.S. Ambassador to Azerbaijan Richard Morningstar, the selected gas pipeline will ensure the energy security of Azerbaijan and Europe.
"I unequivocally say that the U.S. supports the TAP project. This is not the end of the process. It is possible that the Nabucco project will be implemented in the future, and that depends on the volume of gas," Morningstar said.
On Friday, the shareholders of the project for the development of Azerbaijani gas condensate field Shah Deniz announced the selection of TAP as the transportation route for its gas to European markets.
The TAP project is designed to transport gas from the Caspian region via Greece and Albania across the Adriatic Sea to the south of Italy and further to Western Europe.
The gas produced within the second phase of development of the Azerbaijani gas condensate field Shah Deniz is regarded as the main source for the project.
TAP's initial pipeline capacity will be 10 billion cubic metres per year, but is easily expandable to 20 billion cubic metres per year. TAP's shareholders are AXPO of Switzerland (42.5 per cent), Norway's Statoil (42.5 per cent) and E.ON Ruhrgas of Germany (15 per cent).
Construction of TAP is expected to start in 2015.