TAP among major projects to support Albania’s growth in 2018

  25 January 2018    Read: 1367
TAP among major projects to support Albania’s growth in 2018

Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, is among major projects that will support Albania’s economic growth in 2018, according to the report released by French credit insurance agency Coface.

Albania's GDP is expected to rise by 3.9 percent in 2018, as compared to 3.8 percent in 2016, as a result of continued foreign direct investments in infrastructure, according to the report.

“TAP and the Moglice hydro power plant are some of the major infrastructure projects that will support the country’s economic growth in 2018,” said the insurance agency.

TAP, worth 4.5 billion euros, is a part of the Southern Gas Corridor which is one of the priority energy projects for the EU.


TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field to the EU countries.

The pipeline will be connected to the Trans-Anatolian Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.

TAP’s shareholders are: BP (20 percent), State Oil Company of Azerbaijan (20 percent), Snam (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).

TAP will be 878 kilometers in length (Greece 550 km, Albania 215 km, Adriatic Sea 105 km, and Italy 8 km). Its highest point will be 1,800 meters in Albania’s mountains, while its lowest point will be 820 meters beneath the sea.

 


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