TAP reveals volume of investments in Albania for 2017-2018
Baku, Azerbaijan, Oct.3
By Leman Zeynalova- Trend:
The consortium for construction of the Trans Adriatic Pipeline (TAP) plans to invest a total of 800 million euros in Albania in 2017-2018, said TAP country manager for Albania Shkelqim Bozgo.
Overall, TAP project is expected to bring a total of 1.5 billion worth investment in Albania, Greek media quoted Bozgo as saying.
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.
Follow the author on Twitter: @Lyaman_Zeyn