BAKU, Azerbaijan, Feb.8
By Leman Zeynalova – Trend:
Italy has experienced a “revolution” in the gas market with the contribution of the Trans Adriatic Pipeline, Trend reports citing Italian media.
Italy exported 24 million and 12 million cubic meters of gas to France on Jan.23-24 and Jan.30-31 respectively. Around 4 million cubic meters of gas went to Switzerland.
The reasons for this "revolution" on the market that has transformed Italy into an exporter are of a technical nature: in recent years, investments have been made in the network to allow the “reverse flow”, the mechanism that allows gas to be pushed outwards. Furthermore, Italy has increased its regasification plants from one to three since the early 2000s.
Finally, on Dec.31, 2020, with a capacity of 10 billion cubic meters of gas per year, TAP further increased the supplies to Italy, definitively contributing to narrowing the price differential with the markets of northern Europe.
As a key part of the Southern Gas Corridor, TAP is strategically and economically important to Europe and essential in providing reliable access to a new source of natural gas. TAP plays a significant role in boosting Europe’s energy security, supply diversification, as well as decarbonisation objectives.
TAP’s shareholding is comprised of bp (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
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