TAP reveals next steps within project implementation

Azerbaijan, Baku, Sept. 6 / Trend A.Badalova/ Resolution to Construct (RtC) decision by the Trans Adriatic Pipeline (TAP) will be the next important milestone for the project this year, the source in TAP told Trend on Wednesday. According to the source, it will be made one month before the Consortium of Azerbaijani Shah Deniz field development makes its Final Investment Decision. "In the meantime, TAP will continue to develop the project, leading up to construction, due to begin in 2015," the source said. "This will include activities in TAP's transit countries - Albania, Greece and Italy, such as land easement and acquisition, public disclosure of TAP's Environmental and Social Impact Assessments, and on-going engagement with all relevant stakeholders," the source added. The Shah Deniz Consortium announced its choice of the TAP project in late June as a gas transportation route to European markets. TAP is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and then to Western Europe. The gas which will be produced in the second phase of Shah Deniz field, is considered as the main source of the project. The initial capacity of the TAP pipeline will be 10 billion cubic meters per year with the possibility of expanding to 20 billion cubic meters per year. TAP shareholders are BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (16 percent), Total (10 percent), E.ON (9 percent) and Axpo (5 percent). However, according to the source in TAP, the shareholders of the project have stated that they remain open to new shareholders that can provide added strategic value to the development of the project. Earlier Sabah newspaper reported with the reference to Turkish Minister of Energy and Natural Resources Taner Yildiz, that Turkey intends buying a share in TAP using state pipeline company Botas or another company. Do you have any feedback? Contact our journalist at agency@trend.az