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Trans Adriatic Pipeline launches market test

02 July 2019 [11:39] - TODAY.AZ

By Trend


Trans Adriatic Pipeline AG (TAP) launched a market test to allow natural gas shippers to express interest, and in a later phase, potentially secure access to new, long-term capacity in TAP, thereby enabling the future expansion of the pipeline capacity, Trend reports with reference to TAP AG consortium.

The market test will be conducted in two main phases: a non-binding phase, starting on 1 July 2019, followed by a binding phase, expected to start earliest in the second quarter of 2020.

“Starting 2020, TAP plans to initially transport approximately 10 billion cubic meters of natural gas annually, bringing a new source of gas to Europe. Yet, TAP is able to double its capacity to 20bcm/a, therefore, with the project now being more than 88% complete, we aim to ensure that the pipeline can expand in line with the future demand to transport gas into Europe. This is a great opportunity for additional gas resources to reach the European markets, supporting the transition to a cleaner energy mix,” Luca Schieppati, TAP’s Managing Director, said.

“As completed segments of the pipeline are handed over for the commissioning phase of the project, we are focused on preparations for commercial operations as an independent transmission system operator and reliable service provider. We will be offering capacity products in line with the Capacity Allocation Mechanism Network Code,” Marija Savova, Head of Commercial for TAP, added.

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/184069.html

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