BAKU, Azerbaijan, Oct.20
By Leman Zeynalova – Trend:
Until the start-up of the Trans Adriatic Pipeline (TAP) project, Spanish Enagas company, which is one of the TAP shareholders, will continue, as planned, making capital contributions to TAP for a value of €4.8 million, until a total planned investment of €222 million is reached, Trend reports citing Enagas.
“Four and a half years after the start of construction, TAP is substantially complete. The last gas pipeline weld was carried out on 24 July at the connection of the offshore-onshore sections on the Italian side. The project is substantially completed and maintains the commercial operation date during 4Q 2020. The Interconnection Point between TAP and the Snam Rete Gas transmission network in Italy is expected to be completed and ready to transport gas by mid-November,” said Enagas in its 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.
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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