...

TAP to strengthen geostrategic value of Southeastern Europe

Oil&Gas Materials 19 April 2022 09:50 (UTC +04:00)
TAP to strengthen geostrategic value of Southeastern Europe
Laman Zeynalova
Laman Zeynalova
Read more

BAKU, Azerbaijan, April 19. The Trans Adriatic Pipeline (TAP) will strengthen the geopolitical and geostrategic value of Balkans and Southeastern Europe, Trend reports with reference to the Institute of Energy for South-East Europe (IENE).

“The presence of the Trans Adriatic Pipeline, which is already in operation, the Interconnector Greece-Bulgaria (IGB), which is under construction, the planned EastMed and the four new floating storage regasification units (two in Alexandroupolis, one in Aigos Theodoros, Corinth and one in Volos), strengthen the geopolitical and geostrategic value of our country and the wider region of the Balkans and Southeastern Europe,” reads the report released by IENE.

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.

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

Tags:
Latest

Latest