Today.Az » Business » Decision made: TAP to carry Azerbaijani gas to Europe
28 June 2013 [10:38] - Today.Az
Source: AzerNews
The Trans Adriatic Pipeline (TAP) is selected by the Shah Deniz Consortium engaged in the development of Azerbaijani gas condensate field Shah Deniz in the Caspian Sea ,as a route for transporting its gas to European markets.
The TAP project with initial capacity of 10 billion cubic meters of gas per year will be connected to the Trans Anatolian gas pipeline (TANAP), which envisages the construction of a pipeline from the eastern border of Turkey to the country's western border to supply gas from the Shah Deniz field to European markets through Turkey.
The TAP project is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to the south of Italy, and further to Western Europe. TAP's initial pipeline capacity will be 10 billion cubic meters per year, but it is easily expandable to 20 billion cubic meters per year. TAP's shareholders are Switzerland's AXPO (42.5 percent), Norway's Statoil (42.5 percent) and Germany's E.ON Ruhrgas (15 percent).
Earlier experts said that the commercial component will play an important role in the selection of a final route for transportation of Azerbaijani gas to Europe. Furthermore, the selected market should be able to offer the exporters long-term security of demand for a period of at least 20-25 years.
In this context, the first advantage of the TAP project was the higher gas price on the Italian hub by 20 percent compared with the price in Western Europe.
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