Baku, Azerbaijan, Feb.20
By Leman Zeynalova – Trend:
Spain’s Enagas company, which is one of the shareholders of the Trans Adriatic Pipeline (TAP), has invested 439 million euros in the project as of Dec.31, 2017, the company said in its report on 2017 financial results.
Enegas’ final investment in TAP, once the financing of the project is closed, which is expected in 2018, will be approximately 270 million euros, said the report.
Earlier, a source in Enagas told Trend that the company has invested around 175 million euros in the project in 2017.
TAP, worth 4.5 billion euros, is a part of the Southern Gas Corridor which is one of the priority energy projects for the EU.
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 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.
TAP’s shareholders are: BP (20 percent), State Oil Company of Azerbaijan (20 percent), Snam (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).
TAP will be 878 kilometers in length (Greece 550 km, Albania 215 km, Adriatic Sea 105 km, and Italy 8 km). Its highest point will be 1,800 meters in Albania’s mountains, while its lowest point will be 820 meters beneath the sea.
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