From a regional perspective, the realization of the Trans Adriatic Pipeline (TAP) should act as a catalyst to accelerate the development of other key infrastructure projects in Southeastern Europe, says Constantine Levoyannis, head of the Greek Energy Forum’s Brussels branch.
“Thus, the way will be paved for creation of a regional market with improved interconnectivity and security of supply through diversification of routes and sources of gas,” the expert told Trend May 17.
A groundbreaking ceremony was held for the Trans Adriatic Pipeline (TAP) in Thessaloniki, Greece, May 17. TAP is the third part of the Southern Gas Corridor, envisaging Azerbaijani gas supplies to Europe, along with the South Caucasus Pipeline (SCP) and Trans-Anatolian Pipeline (TANAP).
Levoyannis said the TAP groundbreaking ceremony marks a significant milestone for the energy security of both Greece and the European Union.
“Moreover, the project will make an important contribution to Greece’s decarbonisation efforts, as many coal and lignite power plants will be phased out in 2020,” he added.
TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan’s Shah Deniz gas and condensate field to the EU countries.
The 870-kilometer pipeline will be connected to the Trans Anatolian Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy’s south.
It is expected that the first gas from Azerbaijan’s Shah Deniz gas field will reach Europe via TAP in 2020.
TAP’s initial capacity will be 10 billion cubic meters of gas a year, expandable to 20 billion cubic meters.
TAP shareholders are: BP (20 percent), SOCAR (20 percent), Snam S.p.A (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).