Today.Az » Business » TAP to make great contribution to progressive decarbonization of Europe’s economy
21 October 2019 [15:17] - Today.Az
Gas will contribute to progressive decarbonisation of economy in Europe, in which such infrastructure projects like the Trans Adriatic Pipeline (TAP) play a significant role, Luca Schieppati, TAP Managing Director, said, Trend reports citing TAP AG consortium.
He pointed out that the energy transition that is taking place in Europe has global consequences.
The Integrated National Plan for Energy and Climate of European countries considers gas necessary for the transition but also as a source of the future: methane and green gas will play an important role in the new "green" energy context, noted TAP managing director.
Schieppati said that world energy demand grew by 2.3 percent last year and gas was the fastest-growing fuel, driven by increased demand and the replacement of coal.
At the moment it is unimaginable to think of a 100 percent renewable world starting tomorrow, he 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).