BAKU, Azerbaijan, Apr.9
By Leman Zeynalova - Trend:
For south-east Europe the importance of the Trans Adriatic Pipeline (TAP) will increase once the interconnector between Bulgaria and Greece (IGB) is finalised (expected in 2021), enabling alternative gas sources for the region, still largely dependent on imports from Russia, Trend reports citing the European Commission.
“As data of ENTSO-G show, in January and February 2021 daily average delivery to Italy amounted to around 9-10 million cubic meter. Gas flows from Azerbaijan to Italy might result in decreasing price premium of the Italian price hub PSV to the TTF, whereas they might enable Italy to export gas to north-western Europe, a flow in reverse direction compared to usual market situation,” reads the report released by the European Commission.
On 12 October 2020 TAP AG, the company in charge of the construction of the Trans-Adriatic Pipeline, announced that the after almost four and a half years since the start of the works, the Trans Adriatic Pipeline is substantially complete, finalizing preparations for launching the commercial operations and offering capacity to the market in alignment with the adjacent TSOs.
TAP is the European leg of the Southern Gas Corridor, a gateway project that will transport 10 billion cubic metres (bcm) a year of new gas supplies from Azerbaijan through Greece and Albania, crossing the Adriatic Sea to Italy. According to current supply contracts, capacity is booked for 25 years, with 8 bcm to Italy and 1 bcm respectively to Greece and Bulgaria. On 15 November, TAP began operations. First commercial deliveries to Italy were reported on 30 December 2020 .
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