TAP partially stems increase in gas prices – managing director

Oil&Gas Materials 19 October 2021 15:02 (UTC +04:00)

BAKU, Azerbaijan, Oct.19

By Leman Zeynalova – Trend:

The Trans Adriatic Pipeline (TAP), the European leg of the Southern Gas Corridor, partially stems the increase in gas prices, Luca Schieppati, TAP managing director said, Trend reports.

“The reasons for the sharp rise in gas prices are systemic: increased consumption in Asia and in particular in China; reduction of production in Europe and increase in demand for the post-pandemic recovery. TAP has already safely transported 5 billion cubic meters of gas, contributing to the security of supplies in Italy and Europe. Before TAP, Italy has always paid more for gas than other nations in central and northern Europe. Now the difference is nil,” he said.

The managing director noted that TAP transports gas volumes equal to 10-11 percent of Italy’s national consumption. “In the current situation of a "perfect storm" in the price of energy, it manages to partially stem the increase in costs.”

Schieppati went on to add that using the same infrastructure and the same skills, TAP will be able to accommodate a mixture of gas and hydrogen, actively participating in the ongoing energy transition and becoming increasingly sustainable.

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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