Baku, Azerbaijan, Jan.9
By Leman Zeynalova – Trend:
Demand from the Trans-Adriatic Pipeline (TAP) drove a surge in Greek metal production in 2017.
Basic metals production in Greece grew more than 21 percent, according to industrial production data covering the January-November period in 2017, Bloomberg reported.
Reportedly, behind the surge is demand for pipes from TAP.
TAP worth 4.5 billion euros is a part of the Southern Gas Corridor, which is one of the priority energy projects for the European Union. The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.
The pipeline will connect to the Trans Anatolian Natural Gas Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy’s south.
TAP will be 878 kilometers in length (Greece 550 kilometers, Albania 215 kilometers, Adriatic Sea 105 kilometers, and Italy 8 kilometers).
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).
The European Bank for Reconstruction and Development (EBRD) is considering allocation of 500 million euros loan for TAP project. Aside from EBRD, the European Investment Bank (EIB) will also discuss the allocation of 1.5 billion euros loan for TAP in February.
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