BAKU, Azerbaijan, July 13
By Leman Zeynalova – Trend:
Natural gas is a complementary energy source and – due to its versatility, price, and performance characteristics – is regarded as the best energy commodity to partner with renewable energy, said TAP Director of Corporate Services Jonathan Collingwood, Trend reports.
He was answering the question about how does the international push for more renewable and clean energy affect the Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe.
“Developing renewable energy is vital for Europe’s transition towards a low carbon economy. In order for renewables to achieve their full potential, however, investments in complementary energy sources will still be required. Natural gas is a complementary energy source and – due to its versatility, price, and performance characteristics – is regarded as the best energy commodity to partner with renewable energy,” he told Greece Investor Guide.
“The 2030 Agenda for Sustainable Development is an EU commitment, which we support by contributing to the gradual decarbonisation of the economy, especially in southeastern Europe, along with our contribution to the diversification and security of energy supply. Being the cleanest form of fossil fuel, natural gas is globally recognised as the most significant transitional resource on the way to a more renewables-based energy mix.”
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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