TODAY.AZ / Business

TAP reinstates 89% of route in Greece, Albania

07 February 2019 [17:01] - TODAY.AZ

By  Trend


Around 89 percent of the Trans Adriatic Pipeline (TAP) route has been reinstated in Greece and Albania, Trend reports citing a message from TAP AG consortium.

“TAP is reinstating around 89 percent of route in Greece and Albania (685 kilometers out of 765 kilometers in total),” said the consortium.

Land parcels are returned to owners and users to resume agriculture activities, reads the message.

TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU). The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.

Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.

The project is currently in its construction phase, which started in 2016.

Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3,500-kilometer long gas value chain stretching from the Caspian Sea to Europe.

TAP shareholders include 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/178939.html

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