-1525430851.jpg "Albania approves TAP’s license for independent natgas transmission operator")
The licensing decision was published in the 'Official Gazette', according to which ERE has decided to license TAP AG for a 25-year term from the start date of the operation.
Referring to the decision, the company shall submit to the ERE no later than 12 months from the beginning of the pipeline operation the full documentation showing ownership rights on the assets and functions it has to perform under the required license on the territory of Albania.
TAP had filed an application to the ERE for licensing in December last year.
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).
