BAKU, Azerbaijan, October 25. The company for the Ionian Adriatic Pipeline (IAP) is expected to be created in early 2024, Croatian Plinacro company, which is one of the project participants, told Trend.
“The final harmonization among the interested parties concerning the contracts on the incorporation of the joint company, expected to happen at the beginning of the next year, is underway,” the company said.
Ionian Adriatic Pipeline can be connected to the Trans Adriatic Pipeline (TAP) to transport gas to many countries in South-East Europe.
The pipeline with total length of 516 kilometers will stretch from Albania through Montenegro, and Bosnia and Herzegovina, to split in Croatia.
The capacity of the pipeline will amount to five billion cubic meters of gas per year.
TAP has already signed memorandums of understanding and cooperation with the developers of this project, in particular with companies of Plinacro (Croatia), BH-Gas (Bosnia and Herzegovina), Geoplin Plinovodi (Slovenia), as well as with the governments of Montenegro and Albania.
There has been created a TAP-IAP joint working group that gathers regularly to synchronize the timing of both pipeline projects and coordinate the technical issues of interconnection.
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