BAKU, Azerbaijan, Apr.16
By Leman Zeynalova – Trend:
Greece imported around 3.47 TWh of Azerbaijani gas in Q1 2021 through the Nea Mesimvria entry point which connects the country’s national natural gas system with the Trans Adriatic Pipeline (TAP), Trend reports citing Greek media.
As such, Azerbaijani gas accounted for roughly 18 percent of the country’s total imports in the first three months of the year.
This is while Greece saw as much as 50 percent contraction in liquified natural gas (LNG) imports from January through March.
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.
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 percent), SOCAR (20 percent), Snam (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
Follow the author on Twitter: @Lyaman_Zeyn