Today.Az » Business » Albania, Italy to create JV for TAP maintenance
13 June 2018 [12:28] - Today.Az
Albanian gas infrastructure operator Albgaz and the Italian SNAM have signed an agreement to create a joint venture for maintenance of the Trans Adriatic Pipeline (TAP) on the territory of Albania, said Albanian Ministry of Infrastructure and Energy.
The joint venture will be 75 percent owned by Albgaz and 25 percent by Snam.
“The recruitment of employees and their training in Italy and Albania is expected to be completed in 2019. The maintenance activity will begin after basic training, mainly during 2019. After 2020, when TAP's operation is expected, the joint venture will provide the entire spectrum of services,” said the ministry.
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).