Details of IGB-TAP co-op agreement revealed (Exclusive)
Baku, Azerbaijan, Aug. 8
By Leman Zeynalova – Trend:
With the cooperation agreement signed between ICGB AD, the operator of the Interconnector Greece-Bulgaria (IGB) and TAP AG, the consortium for construction of the Trans Adriatic Pipeline (TAP), both parties agreed generally on the provisions of the physical connection between the both pipeline systems, Teodora Georgieva, executive officer at ICGB AD joint venture company, the project’s operator, told Trend.
The cooperation agreement for connectivity of the two gas pipelines was signed in late June in Bulgaria.
"The cooperation agreement defines the interconnection facilities - interconnection point, connecting pipeline, fiscal metering and regulating station, isolating joint and fiber optic cable connection," said Georgieva.
She noted that the agreement determines the position of the interconnection point and the distribution of responsibilities between the parties on each side of the interconnection point regarding the construction and operation of the interconnection facilities.
The cooperation agreement sets also the next steps forward in the interconnection process - elaboration and signing of tie-in agreement and final interconnection agreement, added Georgieva.
IGB is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field. IGB is expected to be connected to TAP via which gas from the Shah Deniz field will be delivered to the European markets.
The initial capacity of IGB will be 3 billion cubic meters of gas.
TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU), and has already attracted 1.5 billion euros from the European Investment Bank (EIB), which approved the loan in early February 2018.
Connecting with the Trans-Anatolian Natural Gas 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), Enagas (16 percent) and Axpo (5 percent).
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