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Croatian Energy Ministry: IAP project company to be created by end-2019 (Exclusive)

Oil&Gas Materials 2 September 2019 10:27 (UTC +04:00)

Baku, Azerbaijan, Sept.2

By Leman Zeynalova – Trend:

The company for implementation of the Ionian-Adriatic Pipeline (IAP) project, is expected to be created by late 2019, Croatian Ministry of Energy and Environment told Trend.

“Ionian Adriatic Pipeline project is now in process of establishing Project company. It is expected that project company will be established by the end of 2019,” said the ministry.

The Energy Ministry said that Croatia, as a part of European Union, supports Energy Union as a common EU energy policy.

“So, we find security of supply and diversification of sources, especially in a gas sector, as one of most important topics in energy policy of EU. To secure supply of gas and diversification of sources we need a new source of gas in EU territory what is provided by Southern Gas Corridor project. Last year and opening of TANAP pipeline was crucial to fulfill both of these conditions. Finally, gas from Azerbaijan is on EU border and we will continue development of Ionian Adriatic Pipeline (IAP) project to bring gas from Azerbaijan to Southern Europe,” said the ministry.

IAP is a proposed natural gas pipeline in Southeastern Europe that will stretch from Albania through Montenegro, and Bosnia and Herzegovina, to Split in Croatia. It will be connected with the Trans Adriatic Pipeline (TAP). The capacity of the pipeline will amount to five billion cubic meters of gas per year.

The Southern Gas Corridor is one of the priority projects for the EU and envisages the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.

The launching ceremony of the first stage of the Southern Gas Corridor was held in Baku on May 29, 2018, while opening ceremony of TANAP was held on June 12, 2018 in the Turkish city of Eskisehir.

The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the Southern Gas Corridor - from the Sangachal terminal to the expanded South Caucasus Pipeline.

Trans-Adriatic Pipeline (TAP) and Trans-Anatolian Natural Gas Pipeline (TANAP) were connected on the Turkish-Greek border.

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