Once built, the Trans Adriatic Pipeline TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, said the message.
TAP AG said that 97 percent of steel pipes have been welded and 89 percent of steel pipes are in the ground (backfilled).
“Around 72 percent of land in Greece and Albania is in the process of being reinstated. Around 650 olive trees are already moved to the storage area in Maledugno, Southern Italy,” said the consortium.
TAP worth 4.5 billion euros is a part of the Southern Gas Corridor, which is one of the priority energy projects for the European Union. The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.
The pipeline will connect to the Trans Anatolian Natural Gas Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy’s south.
TAP will be 878 kilometers in length (Greece 550 kilometers, Albania 215 kilometers, Adriatic Sea 105 kilometers, and Italy 8 kilometers).
TAP’s shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
The European Bank for Reconstruction and Development (EBRD) is considering allocation of 500 million euros loan for TAP project. Aside from EBRD, the European Investment Bank (EIB) will also discuss the allocation of 1.5 billion euros loan for TAP in February.
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