Azerbaijan, Baku, Sept. 6 / Trend A.Badalova/
Italian gas transport group Snam denied the reports about its interests in the Trans Adriatic Pipeline (TAP) project, Reuters reported with the reference to the company's CEO Carlo Malacarne.
"We have never thought of taking part, it is not our risk profile," Malacarne said on Friday.
Reuters mentioned that on Thursday a top source at State Oil Company of Azerbaijan (SOCAR) said TAP was in talks with Snam to join the project.
TAP is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and then to Western Europe. The gas which will be produced in the second phase of Azerbaijani Shah Deniz field development, is considered as the main source of the project.
The Shah Deniz Consortium announced its choice of the TAP project in late June as a gas transportation route to European markets.
The initial capacity of the TAP pipeline will be 10 billion cubic meters per year with the possibility of expanding to 20 billion cubic meters per year.
TAP shareholders are BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (16 percent), Total (10 percent), E.ON (9 percent) and Axpo (5 percent).
Earlier the source in TAP told Trend that in accordance with the project's shareholders, they remain open to new shareholders that can provide added strategic value to the development of the project.
Last week Sabah newspaper reported with the reference to Turkish Minister of Energy and Natural Resources Taner Yildiz, that Turkey intends buying a share in TAP using state pipeline company Botas or another company.