Today.Az » Business » Ministry: TAP, IAP can ensure gas supply security for Croatia
10 December 2019 [11:12] - Today.Az
The Trans Adriatic Pipeline (TAP) and Ionian-Adriatic Pipeline (IAP) are strategic projects that can ensure diversification of transportation routes and gas supply security for Croatia, Trend reports with reference to the draft energy development strategy of Croatia until 2030, published by the country’s Ministry of Environment and Energy.
The document says that strengthening the links of all network systems with the environment, strengthening regional cooperation and participation in regional projects are important factors for ensuring the security of energy supply.
"Diversification of supply routes, as well as energy suppliers, is key to improving security of supply. It is also necessary to diversify and increase the capacity of gas storages. Serious gas supply disruptions can cause serious damage to the economies of EU countries, including Croatia," said the ministry.
Further, the ministry said that since the forecasted volumes of natural gas consumption will remain at the same level or increase in the upcoming period, and domestic production will fall, it is necessary to invest in new gas supply projects in order to maintain the existing level of supply security.
"The discovery of new hydrocarbon reserves and the increase in their production from domestic sources is one of the ways to improve the reliability of supply. Accordingly, it is necessary to ensure the inflow of investments in the exploration and development of new sources of hydrocarbons," the document says.
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).
IAP is a proposed natural gas pipeline in Southeastern Europe that will stretch from Albania through Montenegro, and Bosnia and Herzegovina, to Split in Croatia. It will be connected with the Trans Adriatic Pipeline (TAP). The capacity of the pipeline will amount to five billion cubic meters of gas per year.