TAP to make its Resolution to Construct before late 2013
Azerbaijan, Baku, Oct. 2 / Trend A.Badalova /
Trans Adriatic Pipeline (TAP) will make the Resolution to Construct before late 2013, the spokesperson for TAP told Trend.
"TAP will make its Resolution to Construct one month before Shah Deniz Consortium making its Final Investment Decision (FID) on the "Shah Deniz-2" project. This is planned to happen before the end of this year," the spokesperson said.
In late June the Consortium of Azerbaijani Shah Deniz field development selected TAP as the route to transport its gas to European markets. The gas which will be produced in the second phase of Shah Deniz field development is considered as the main source for TAP.
The Final Investment Decision on the "Shah Deniz-2" project is planned for late this year. Following the final investment decision it is expected that the first gas will be delivered to Turkey in 2018 and to Europe in 2019.
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 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).
The construction of TAP is planned to start in 2015.