TAP covers 17% of Greek demand for natural gas

Oil&Gas Materials 26 October 2021 14:35 (UTC +04:00)
TAP covers 17% of Greek demand for natural gas

BAKU, Azerbaijan, Oct.26

By Leman Zeynalova – Trend:

The contribution of the Trans Adriatic Pipeline (TAP) to demand coverage in Greece amounts to around 17 percent so far this year, Trend reports with reference to Spanish Enagas company, a TAP shareholder.

“The volume of natural gas delivered in Italy are covering approximately until 10 percent of demand in that country and rare making significant contribution to closing the historical overpricing of the Italian market (PSV) compared to the European benchmark TTF,” said Enagas.

“Infrastructure utilization remains on schedule, averaging 79 percent in September. Operational availability so far this year has been 100 percent.”

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