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TAP’s Management Code approved by Greece, Italy, Albania

Oil&Gas Materials 23 July 2020 12:01 (UTC +04:00)
TAP’s Management Code approved by Greece, Italy, Albania

BAKU, Azerbaijan, July 23

By Leman Zeynalova – Trend:

Management Code of the Trans Adriatic Pipeline (TAP) was approved in accordance with the joint decision of the Regulatory Authorities of Greece, Italy and Albania, Trend reports with reference to the decision posted on Greek Regulatory Energy Authority’s (RAE) platform.

The draft Code was put up for public consultation from August 7 to September 18, 2018, which was extended until September 30, 2018.

Comments were received from nine participants, six companies participating in the gas market, two industry associations, and the Energy Community Secretariat.

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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