BAKU, Azerbaijan, Feb.4
By Leman Zeynalova – Trend:
Until the commercial operation day (COD), the project commissioning, Spanish Enagás will contribute further with approximately 20 million euros in capital to the Trans Adriatic Pipeline (TAP), the company told Trend.
Enagas’ said its total investment in TAP is expected to reach around 230 million euros, in line with the capital structure contemplated in the project.
TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU). The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.
Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.
The project is currently in its construction phase, which started in 2016.
Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3,500-kilometer long gas value chain stretching from the Caspian Sea to Europe.
TAP shareholders include BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
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