BAKU, Azerbaijan, Apr.13
By Leman Zeynalova – Trend:
Greece may take more gas than contracted via the Trans Adriatic Pipeline (TAP), Trend reports citing S&P Global Platts.
Greek DEPA is contracted to take 1 Bcm/year of gas from Azerbaijan, though supplies are currently in the ramp-up phase, with Italian buyers taking roughly half of their contracted volumes so far in 2021.
Greece can therefore be expected to be taking a little over 1 million cu m/d via TAP so far this year.
Greek gas demand is currently some 5 Bcm, but consumption is set to rise to some 7 Bcm/year later this decade due to a switch away from coal-fired power generation.
Greece is also set to play a bigger role in the regional gas market in the coming years, with the country set to become a gateway for LNG supplies into southeast Europe as both the 7 Bcm/year Revithoussa import terminal and the planned 5.5 Bcm/year floating storage and regasification unit at Alexandroupolis expected to serve the wider regional market.
As the European section of the Southern Gas Corridor, TAP has the capacity to transport approximately 10 billion cubic meters of gas per annum (bcm/a) to several markets in Europe. The pipeline is also designed with the potential to expand its throughput capacity up to 20 bcm/a.
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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