Baku, Azerbaijan, April 25
By Leman Zeynalova – Trend:
The work on construction of the Greek section of the Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, is almost complete, Trend reports citing Spanish Enagas, one of the TAP shareholders.
“Work in Albania and Greece is progressing as planned. The Greek pipeline section is finished, except for 2 km in the Kavala region, where work continues to cover trenches,” the company said in its report as of Q1 2019.
Enagás said it will contribute a further 62 million euros in capital to TAP until the project is commissioned.
“Enagás' total investment in TAP until completion of the construction work is expected to reach 232 million euros, in line with the project's estimated capital structure,” said the company.
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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