BAKU, Azerbaijan, Feb.14
By Leman Zeynalova – Trend:
The Trans Adriatic Pipeline contributed to investment growth in Albania, the World Bank said in its recent outlook on Albania, Trend reports.
The WB notes that investment picked up, in part due to the implementation of two large foreign–financed projects, the Trans-Adriatic Pipeline and the Devoll hydropower plant, both of which have been completed.
“The recent completion of the Trans-Adriatic Pipeline has provided the country with direct access to natural gas, further increasing the availability of a relatively clean primary fuel (especially compared to distillate from crude oil and wood, Albania’s most common primary fuel). However, tapping into this new source of energy would require a careful selection of users of natural gas (e.g., electricity generators and industrial applications) and targeted investments in the natural gas network to avoid stranding natural gas assets,” said the World Bank.
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).
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