Baku, Azerbaijan, May 17
By Aygun Badalova - Trend:
Once complete, the Trans Adriatic Pipeline (TAP) will be a major asset in European energy security tool box, said Maros Sefcovic, vice-president of the European Commission for Energy Union, whose words are published on the Commission's official website.
"By opening up access to gas from Azerbaijan, TAP will allow many countries, including in Central and South East Europe to diversify their sources of gas," Sefcovic said.
Southern Gas Corridor will be vital for reaching the Energy Union objectives of diversification of sources, routes and energy security, according to vice-president.
"Therefore timely completion is crucial so that gas from the new suppliers can flow to Europe by 2020," he added.
Maroš Šefčovič will represent the Commission in a ceremony to launch the construction works of TAP in Thessaloniki, Greece on Tuesday 17 May. The event is hosted by Greek Prime Minister Alexis Tsipras.
TAP, which is the part of the Southern Gas Corridor project, envisages transportation of gas from the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field to the EU countries.
The European Commission repeatedly stated that the scalability of the Southern Gas Corridor is a crucial element for EU's energy security.
The 870-kilometer TAP will be connected to the Trans Anatolian Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.
TAP's shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).