TAP submits application to update its Independent Natural Gas System licence
Baku, Azerbaijan, Feb.13
By Leman Zeynalova – Trend:
The consortium for construction of the Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, has submitted an application to Greek Regulatory Authority for Energy (RAE) to update its Independent Natural Gas System licence, Lisa Givert, TAP Head of Communications, told Trend.
TAP’s application has been submitted to update its Independent Natural Gas System (INGS) licence, which was already granted to TAP by virtue of RAE’s decision no. 431/30.07.2014, she explained.
“This application is submitted in accordance with Article 17(2)(d) of the Greek Natural Gas Licensing Regulation to ensure developments since 2014 (i.e., change of shareholders’ name / address, etc.) are up-to-date,” Givert added.
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).
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