BAKU, Azerbaijan, Feb.17
By Leman Zeynalova – Trend:
The Trans Adriatic Pipeline (TAP) provides opportunities for Extractive Industries Transparency Initiative (EITI) in Albania to expand coverage of data collection on gas transportation, including new revenues that it generates for the state, Trend reports with reference to EITI.
“EITI Albania could investigate reports by Albania’s state-owned gas transportation company, Albgaz, and the disclosures on the TAP Electronic Data Platform. These sources will become increasingly relevant as gas transportation through TAP generates transit revenues for Albania’s government,” said EITI.
EITI reporting in Albania can help monitor the evolving energy security landscape in Europe. The Trans-Adriatic Pipeline, a major project which commenced operations in December 2020, delivers gas from the Caspian region to Italy via Albania, thereby connecting Albania to Europe’s energy market.
The Extractive Industries Transparency Initiative implements the global standard to promote the open and accountable management of oil, gas and mineral resources.
The EITI Standard requires the disclosure of information along the extractive industry value chain from the point of extraction, to how revenues make their way through the government, and how they benefit the public.
As the European section of the Southern Gas Corridor, TAP has the capacity to transport approximately 10 billion cubic meters of gas per annum (bcm/a) to several markets in Europe. The pipeline is also designed with the potential to expand its throughput capacity up to 20 bcm/a.
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 percent), SOCAR (20 percent), Snam (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
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