BAKU, Azerbaijan, On 14 November 2022, the Trans Adriatic Pipeline (TAP), together with SRG and DESFA, have opened the first Binding Phase of the 2021 Market Test, the TAP AG consortium told Trend November 23.

“The Binding Phase of the 2021 Market Test starts with the Information Phase launched on 14 November which will end on 13 January 2023. By 13 December 2022 – all parties must have submitted a duly signed Binding Phase Registration Form for the 2021 Market Test and a Confidentiality Agreement. The Binding Bidding Phase starts on 16 January 2023, with the opening of the Bid Submission Window. The Participants will have until 22 January 2023 to submit Binding Bid Forms to TAP and to adjacent TSOs, as relevant,” said the consortium.

TAP AG noted that after the end of the Bid Evaluation Period (25 January 2023), TAP proceeds to the subsequent step, preliminary Capacity Allocation and the Economic Viability Test. The results of the Economic Viability Test will be published on 30 January.

As the European section of the Southern Gas Corridor, TAP has the capacity to transport approximately 10 billion cubic meters of gas per annum (bcm/a) to several markets in Europe. The pipeline is also designed with the potential to expand its throughput capacity up to 20 bcm/a.

As a key part of the Southern Gas Corridor, TAP is strategically and economically important to Europe and essential in providing reliable access to a new source of natural gas. TAP plays a significant role in boosting Europe’s energy security, supply diversification, as well as decarbonisation objectives.

TAP’s shareholding is comprised of bp (20 percent), SOCAR (20 percent), Snam (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

Source: TREND News Agency