TAP is positive about Italian partner in project

Trans Adriatic Pipeline (TAP) has three very competent shareholders in the project, but it would welcome more partners if they can bring added value, Kjetil Tungland, Managing Director of TAP told Trend in iterview in Baku.

"We will be particularly happy if a new Italian partner would join," Tungland said.

Tungland added that several Italian companies have already shown interest in TAP project.

TAP is one of the Southern Gas Corridor projects, designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into Western Europe. Gas to be produced during the second phase of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for TAP.

In February, the Shah Deniz Consortium announced that TAP was selected as the priority route for export of the Azerbaijani gas to Italy.

One of the Italian companies which has expressed an interest in participation in TAP project is Italian Enel.

TAP's current shareholders are EGL of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent).

Tugland stressed that three current shareholders are competent, willing and able to realize the project, adding that having an upstream company (Statoil) involved strengthens the project's position.

Talking about the possibility of Greek DEPA's and / or DESFA's participation with the project, Tungland said that there had been no official request from DEPA [yet] seeking to become a partner in TAP. "TAP shareholders are currently holding negotiations with a range of potential new shareholders," Tungland said.


/Trend/