BAKU, Azerbaijan, Jan.28
By Leman Zeynalova - Trend:
The final results of the market test to double the Trans Adriatic Pipeline’s (TAP) capacity will be announced in October, Trend quoted TAP managing director Luca Schieppati as saying.
The biding phase of the market test will be held in July and the results are expected to be announced in October, he said addressing the European Gas Virtual (EGV) digital conference, an event organized by the Oil & Gas Council.
"TAP will conduct market tests every two years to offer potential buyers the expansion of the pipeline capacity, up to the maximum pipeline capacity of 20 billion cubic meters per year" .
TAP transports natural gas from the giant Shah Deniz field in the Azerbaijan sector of the Caspian Sea to Europe. The 878 km long pipeline connects with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border in Kipoi, crosses Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.
TAP will facilitate gas supplies to South Eastern European countries through prospective interconnectors. In particular, Bulgaria will be able to cover up to 33% of its total gas demand through TAP after the completion of the Interconnector Greece Bulgaria (IGB). TAP’s exits in Greece and Albania together with the landfall in Italy provide multiple opportunities for further transport of gas from Azerbaijan to the wider European markets.
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%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
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