Baku, Azerbaijan, Aug.22
By Leman Zeynalova – Trend:
The Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, could generate 238 million euros worth net profit, Trend reports citing Italian media.
“According to estimates made by one of the partners of the consortium, the pipeline could generate a net profit of 238 million euros already after the first year of activity, ie in 2021,” reads the report.
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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