Spanish Enagas reveals volume of investments in TAP
Baku, Azerbaijan, Jan.23
By Leman Zeynalova – Trend:
Spain’s Enagas company, which is one of the shareholders of the Trans Adriatic Pipeline (TAP), has invested around 175 million euros in the project in 2017, a source in Enagas told Trend.
Final investment in TAP, once the financing of the project is closed, which is expected by mid-2018, will be around 278 million euros, added the source.
The source also talked about the implementation of the project.
“TAP has certainly come a long way already. As construction moves forward on one of Europe’s most important energy infrastructure projects, some of its challenges still lie ahead,” added the source.
TAP, worth 4.5 billion euros, 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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