BAKU, Azerbaijan, Nov.13
By Leman Zeynalova – Trend:
In view of the start-up of the Trans Adriatic Pipeline (TAP) soon, Italian Regulatory Authority for Electricity Gas and Water (ARERA) jointly with the Greek Regulatory Authority for Energy (RAE) approved the capacity allocation rules, Trend reports citing Italian media.
After almost four and a half years since the start of construction, the Trans Adriatic Pipeline is substantially complete.
The TAP pipeline has been filled with natural gas from the Greek-Turkish border up to the pipeline receiving terminal in Southern Italy.
TAP is currently finalizing preparations for launching the commercial operations and offering capacity to the market in alignment with the adjacent TSOs.
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.
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).
---
Follow the author on Twitter: @Lyaman_Zeyn