TAP provides about 40pct of FDI in Albania

By  Trend

The investments made as part of the implementation of the Trans Adriatic Pipeline (TAP) project have accounted for 40 percent of the total foreign direct investments made in Albania in 2016, according to the statistics published by the Bank of Albania.

The statistics showed that foreign investments in the country totaled 983 million euros in 2016, or 10 percent more than in 2015, reaching a record level.

Of this amount, 369 million euros worth of investments were made in Albania as part of implementation of TAP project.

TAP is a part of the Southern Gas Corridor which is one of the priority energy projects for the European Union.

TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field to the EU countries.

The pipeline will be connected to the Trans Anatolian Natural Gas Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.

TAP will be 878 kilometers in length (Greece 550 km, Albania 215 km, Adriatic Sea 105 km, and Italy 8 km). Its highest point will be 1,800 meters in Albania’s mountains, while its lowest point will be 820 meters beneath the sea.