BAKU, Azerbaijan, July 19. The construction of the Ionian-Adriatic Pipeline (IAP) may be completed by the end of 2028 or within 2029, Trend reports.
According to a statement from the Croatian company Plinacro, which is one of the project participants, this will be possible if the work continues at the same pace as before the COVID-19 pandemic.
Additionally, it is expected that a joint project management company will be established by the end of 2023, bringing together the representatives from Croatia, Montenegro, Albania, and Bosnia and Herzegovina. Its headquarters will be located in the city of Split, Croatia.
Plinacro stated that the preparation for the construction of the Croatian section of the pipeline is already at an advanced stage. Reportedly, around 3 million euros have been invested in project documentation preparation. A permission has been obtained to build the first section from Split to Zagvozd and it is expected to receive permission for the construction of the second section between Zagvozd and Ploce in a few months.
According to the latest estimates, the total investment in the Croatian section of the 252-kilometer-long IAP will amount to 700 million euros, and the funding will come from the EU funds and national resources, as stated by Plinacro in response to Montel.
The Ionian-Adriatic Pipeline can be connected to the Trans-Adriatic Pipeline (TAP) for gas transportation to many countries in Southeastern Europe.
The pipeline's capacity will be five billion cubic meters of gas per year.
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