Baku, Azerbaijan, May 17
By Aygun Badalova - Trend:
The Trans Adriatic Pipeline AG (TAP) will continue to progress safe transportation route for Caspian gas to Europe, Ian Bradshaw, Managing Director at TAP AG said in his speech during the TAP groundbreaking ceremony in Thessaloniki, Greece on May 17.
We remain committed to deliver the project safely, on schedule and on budget, Bradshaw said.
He also said that TAP will continue to promote job creation, adding that the project's implementation will inject billions euros of foreign direct investments.
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 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).