...

TAP project complete by over 70%

Oil&Gas Materials 30 April 2018 10:11 (UTC +04:00)
TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU). The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.

Baku, Azerbaijan, April 30

By Leman Zeynalova – Trend:

Progress in the construction of the Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, currently exceeds 70.8 percent, without any deviations from the schedule, Spanish Enagas company, which is one of the TAP shareholders, said in its financial report.

The roll-out of the pipeline is planned for the first quarter of 2020, said the company.

“All the necessary permits have been obtained in Albania and the procedure for obtaining the permits required for the construction of the micro-tunnel in Italy is in the final stage,” said the report.

TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU). The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.

Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.

The project is currently in its construction phase, which started in 2016.

Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3,500-kilometer long gas value chain stretching from the Caspian Sea to Europe.

TAP shareholders include BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest