TAP talks on updating its Independent Natural Gas System license

Baku, Azerbaijan, April 26

By Leman Zeynalova – Trend:

Application by the Trans Adriatic Pipeline (TAP) consortium to update its Independent Natural Gas System (INGS) license in Greece continues as planned, Lisa Givert, TAP Head of Communications, told Trend.

“TAP applied to update its INGS license, which was already granted to TAP by virtue of Regulatory Authority for Energy (RAE) decision no. 431/30.07.2014. This application was 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,” she explained.

Givert pointed out that TAP applied for the INGS Operation License, which allows the operation, exploitation and development of an Independent Natural Gas System in Greece on the Greek territory.

“Once TAP has obtained the INGS Operation License, it will be authorized by RAE to operate and utilize its natural gas transportation system and adjacent facilities for the entire duration of the license,” she 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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Follow the author on Twitter: @Lyaman_Zeyn

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