TODAY.AZ / Business

Enagas committed to TAP as key infrastructure for Europe

16 May 2017 [11:39] - TODAY.AZ

By  Trend


The Trans Adriatic Pipeline (TAP) project will mean a more sustainable supply of energy, in line with the European Union’s objectives, a source in Spain’s Enagas company, which is one of the project’s shareholders, told Trend.

"Enagas is committed to the TAP project as a key infrastructure for Europe," said the source. "It is a part of the larger Southern Gas Corridor project and will offer connections to multiple North European and Europe’s South East region markets."

Regarding the company’s future activities, the source said that in the coming months, Enagas will continue supporting and cooperating in the implementation of the project.

Furthermore, the company supports and assists in the promotion of benefits of TAP from stakeholder and governmental relationship issues, according to the source.

"Enagas has positioned itself as an active shareholder in TAP by leveraging on its ample experience in the midstream sector," said the source. "Together with its fellow shareholders at TAP, it has supported the company [TAP AG] in defining and executing its strategy, and on tackling TAP’s main challenges."

As for the possibilities of further expanding the scope of the company’s activities, the source noted that Enagas is focused nowadays on consolidating the position in regions where it already operates.

TAP is a part of the Southern Gas Corridor, which is one of the priority energy projects for the European Union. The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.

The pipeline will connect 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 kilometers, Albania 215 kilometers, Adriatic Sea 105 kilometers, and Italy 8 kilometers).

TAP’s shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

URL: http://www.today.az/news/business/161247.html

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