TAP Caspian gas pipeline gets trilateral support

The governments of Greece, Italy, and Albania have signed a trilateral agreement confirming their full support and commitment to the Trans-Adriatic Pipeline (TAP) project.

Offshore staff

ATHENS, Greece – The governments of Greece, Italy, and Albania have signed a trilateral agreement confirming their full support and commitment to the Trans-Adriatic Pipeline (TAP) project.

This is on the shortlist as the southern corridor route for exports of gas to Europe from theShah Deniz II development in the Azeri sector of the Caspian Sea.

Within the framework of the Community Treaties and the Energy Community Treaty, the intergovernmental agreement should ensure that the countries cooperate in timely delivery and efficient operation of the TAP pipeline. If selected by theShah Deniz partners, this will be installed westwards from the field, with the final section crossing the Adriatic Sea.

TAP also envisages physical reverse flow of up to 80%, with the option to develop natural gas storage facilities in Albania to strengthen security of supply during any operational interruption of gas deliveries.

TAP’s shareholders are Axpo of Switzerland (42.5%), Norway’s Statoil (42.5%) and E.ON Ruhrgas of Germany (15%).

2/14/2013

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