Region: Commercial operations at Trans-Adriatic gas pipeline26.Jan 2021.
The Trans-Adriatic Pipeline (TAP) has started commercial operations, TAP AG, a company in charge of the construction and operation of TAP announced. Four and a half years after the launch of construction works in Thessaloniki, Greece, an 878 kilometers long gas transportation system crossing Greece, Albania, the Adriatic Sea and Italy starts its commercial operations.
TAP’s Managing Director Luca Schieppati said that this goal is achieved thanks to the dedication and commitment of everyone involved, the solid trust and unwavering support of shareholders, all Governments in the value chain and the European Union, as well as the suppliers and contractors that worked on the project. As a new transmission system operator, developed and built in compliance with best industry practices and standards, TAP enables double diversification: a new, reliable and sustainable energy route and source of gas reaching millions of European end-users, for decades to come. Chairman of TAP’s Board of Directors Murad Heydarov added that the Southern Gas Corridor is the pioneering carrier of natural gas from Azerbaijan to Europe and one of the most modern and reliable systems currently available for transporting energy. As a key component of the 3,500 kilometers-long Southern Gas Corridor, TAP combines strategic and market competitive features. It ensures that Europe can receive supplies from yet another source, while supporting the key EU objectives of achieving an integrated energy market, and a sustainable, secure and diversified energy mix, contributing to ongoing streams towards clean energy transition.
TAP project envisages 878 km long pipeline that will connect to the Trans-Anatolian (TANAP) near the Turkish-Greek border and cross Greece, Albania and Adriatic Sea before reaching its final destination in Italy. Current shareholders of TAP AG are British Petroleum (20 %), Azeri state-owned SOCAR (20 %), Italian Snam (20 %), Belgian Fluxys (19 %), Spanish Enagas (16 %) and Swiss Axpo with 5 % of the shares. The initial capacity of the pipeline is 10 billion cubic meters of gas per year, with an option to expand the capacity to 20 billion cubic meters. The cost of the project was initially estimated at some 6 billion euros, but in 2016 CEO of TAP AG Ian Bradshaw confirmed that the construction should cost 4.5 million euros. The construction of the Greek section of the pipeline was launched on 17 May 2016, while construction works on the Albanian section started on 30 September same year. The works on the 105 kilometers long offshore section between Albania and Italy started in October 2018.