Baku, Azerbaijan, Sept.18
By Leman Zeynalova – Trend:
A joint venture for maintenance of the Trans Adriatic Pipeline (TAP) on the territory of Albania is expected to be created in October this year, said the administrator of Albanian gas infrastructure operator Albgaz Arber Avrami.
He made the remarks during the conference "Greece in the face of energy transition challenges".
The JV will be created by Albgaz and the Italian SNAM, where the companies will have 75 percent and 25 percent share, respectively.
"TAP represents the best opportunity to develop interconnection within the Southern Balkan countries,” said Avrami.
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).
Follow the author on Twitter:@Lyaman_Zeyn