Today.Az » Business » European gas infrastructure group can join TAP shareholders
18 June 2013 [11:20] - Today.Az
Source: AzerNews
The European gas infrastructure group Fluxys is considering taking a shareholding in the Trans Adriatic Pipeline (TAP) project.
TAP reported that discussions between Fluxys' and TAP's shareholders began in 2012. These negotiations are proceeding with a view to include Fluxys as a shareholder in TAP shortly after the Shah Deniz Consortium has decided on the preferred European route to bring gas from Azerbaijan.
TAP's Managing Director Kjetil Tungland expressed glad that Fluxys is looking to join the TAP project.
"Their involvement in TAP fully underlines that TAP is a European Project and truly demonstrates that TAP can transport Shah Deniz gas to Western markets beyond Italy. This in turn, further contributes to Europe's security of supply," he said.
Fluxys Managing Director Walter Peeraer, in turn, said that becoming a partner in TAP would be a further step in their strategy of bridging the markets to foster security of supply and market liquidity in Europe.
"Through our partnership with Snam and our project to enable south-to-north flows from Italy to Switzerland and Germany, Azeri gas from the TAP pipeline could be moved straight into the North Western European markets," he said.
TAP will transport natural gas from the giant Shah Deniz 2 field in Azerbaijan to the most attractive markets in Europe.
Currently the Shah Deniz consortium considers two options to transport its gas to Europe - TAP and Nabucco West. The final decision on the European pipeline route will be made at the end of June.
The pipeline will connect with the Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.
Designed to expand the capacity from 10 to 20 bcm per year, TAP will open up the so-called Southern Gas Corridor, enhancing Europe's energy security by providing a new source of gas.
TAP's shareholders are Axpo of Switzerland (4 2.5%), Norway's Statoil (42.5%) and E.ON of Germany (15%). Shah Deniz Consortium members - BP, SOCAR and Total - have the option to join TAP, if it is selected in June 2013 as the gas transportation route to Europe, and they are currently funding the development of the TAP project.
Fluxys is a major gas transit operator in Europe with activities in six countries and counts among the few operators combining gas transmission, gas storage and terminalling of liquefied natural gas (LNG). Fluxys and TAP are confident they will be able to finalise the necessary arrangements for Fluxys to join TAP by August 2013 subject to TAP being selected by Shah Deniz as preferred European pipeline route. This once again signals confidence in TAP by a major player in the European energy industry.
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