Today.Az » Business » TAP president: Completion of TANAP important step towards energy security in Europe
11 June 2018 [17:25] - Today.Az
The completion of the Trans Anatolian Natural Gas Pipeline (TANAP) is an important step towards energy security in Europe, TAP President Walter Peeraer told Trend.
“The completion of TANAP is an important step towards energy security, diversification and decarbonization in the region,” he said.
Peeraer noted that TAP welcomes TANAP’s inauguration and would like to congratulate TANAP for completing the project safely and in line with the overall Southern Gas Corridor schedule.
The ceremony of launch of TANAP will take place on June 12 in Turkish Eskisehir city.
TANAP will be laid from the Georgian-Turkish border to the western border of Turkey. TANAP together with Trans-Adriatic Pipeline (TAP) is a part of the Southern Gas Corridor, which provides for the transportation of gas from the Azerbaijani field Shah Deniz to Europe.
The initial capacity of TANAP is expected to be 16 billion cubic meters of gas per year. About six billion cubic meters will be supplied to Turkey, and the rest to Europe. After completion of the TAP, the gas will reach Europe in early 2020.
The share distribution in TANAP is as follows: Southern Gas Corridor CJSC - 51 percent, SOCAR Turkey Enerji - 7 percent, Botas - 30 percent, and BP - 12 percent.
The launching ceremony of the first stage of the Southern Gas Corridor project was held in Baku on May 29.
The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the Southern Gas Corridor - from the Sangachal terminal to the expanded South Caucasus Pipeline.
The Southern Gas Corridor, which costs more than $40 billion, is one of the priority projects for the EU and provides for the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.
At the initial stage, the gas produced within the second phase of development of the Azerbaijani gas condensate field Shah Deniz is considered as the main source for the Southern Gas Corridor projects.
The gas in the second stage of the field development will be exported to Turkey and European markets through the expansion of the South Caucasus Pipeline and the construction of the TANAP and TAP pipelines.
TAP worth 4.5 billion euros 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).