BAKU, Azerbaijan, July 28
By Leman Zeynalova – Trend:
During the first half of the year, affiliates accounted for 40.4 percent of Spain-based Enagas company’s net profit, driven mainly by the US company Tallgrass Energy and Trans Adriatic Pipeline (TAP), Trend reports with reference to Enagas, one of the TAP shareholders.
“The Trans Adriatic Pipeline is a key infrastructure for guaranteeing the security of Europe’s energy supply. It connects Turkey with Italy via Greece and Albania, and has made a significant contribution to Enagás' results after its commissioning in late 2020. TAP has operated with 100 percent operational availability, and in July its utilisation level exceeded 80 percent of capacity. As of 1 July, TAP has already transported 3 billion cubic metres (3bcm) of gas delivered to Europe,” said the company.
TAP transports natural gas from the giant Shah Deniz field in the Azerbaijan sector of the Caspian Sea to Europe. The 878 km long pipeline connects with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border in Kipoi, crosses Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.
TAP will facilitate gas supplies to South Eastern European countries through prospective interconnectors. In particular, Bulgaria will be able to cover up to 33% of its total gas demand through TAP after the completion of the Interconnector Greece Bulgaria (IGB). TAP’s exits in Greece and Albania together with the landfall in Italy provide multiple opportunities for further transport of gas from Azerbaijan to the wider European markets.
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.
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