Baku, Azerbaijan, Feb.6
By Leman Zeynalova – Trend:
Progress on the Trans-Adriatic Pipeline (TAP) project appears on track, International Standard & Poor's Global Ratings (S&P) said in its report on Albania.
Given that the largest share of the TAP will be executed in 2017, S&P estimates the foreign direct investment (FDI) inflow in Albania at above 11 percent of GDP in 2017.
TAP consortium said on its Twitter page on Feb.6 that around 75 percent of pipes needed for pipeline construction in Albania has been delivered.
In December 2016, Albania's Energy Ministry and TAP amended their agreement to give more financial support and assistance to Albania.
The parties announced that after seven months of negotiations, they agreed on reviewing payments paid, on increasing investments in communities and on training the local gas sector.
TAP is a part of the Southern Gas Corridor which is one of the priority energy projects for the EU.
TAP 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 pipeline 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 shareholders are: BP (20 percent), State Oil Company of Azerbaijan (20 percent), Snam (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).
TAP will be 878 kilometers in length (Greece 550 km, Albania 215 km, Adriatic Sea 105 km, and Italy 8 km). Its highest point will be 1,800 meters in Albania’s mountains, while its lowest point will be 820 meters beneath the sea.
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