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TAP reinstates 68% of land along its route in Greece, Albania

TAP reinstates 68% of land along its route in Greece, Albania
14:25 13-07-2018 | icon 21

Baku, Azerbaijan, July 13

By Leman Zeynalova - Trend:

Around 68 percent of the Trans Adriatic Pipeline’s (TAP) route in Greece and Albania has been reinstated so far, TAP AG consortium said in a message.

This constitutes more than 520 kilometers out of 765-kilometer long route of the pipeline in these countries.

“All land used is reinstated to at least its original condition,” said the consortium.

TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU), and has already attracted 1.5 billion euros from the European Investment Bank (EIB), which approved the loan in early February 2018.

Connecting with the Trans-Anatolian Natural Gas 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), Enagas (16 percent) and Axpo (5 percent).

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