22-02-2012 11:50:14

TAP sees itself as strong contender to secure Azeri gas

Trans Adriatic Pipeline (TAP) remains a strong contender to win Azerbaijani gas transportation bid, the Managing Director of the Trans Adriatic Pipeline (TAP) Kjetil Tungland told Trend news agency.

"We firmly believe that TAP remains a strong contender to win the bid to transport Shah Deniz II gas to Europe, " Tungland said. "We are also confident that the TAP route to Italy offers the Shah Deniz consortium the most attractive market and the most advanced evacuation route."

TAP is one of the Southern Gas Corridor projects, which is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into western Europe. Gas to be produced during the second stage of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for TAP.

On Oct. 1, TAP, along with the other Southern Gas Corridor projects submitted the final proposals to the Shah Deniz Consortium.

On Monday, the consortium's spokesperson said that ITGI (Interconnector Turkey-Greece-Italy), is no longer considered as the project to deliver Azerbaijani gas to the European markets. The decision was made in accordance with the previously announced criteria for the export of gas from Azerbaijani Shah Deniz field to the European countries.

According to the Shah Deniz Consortium's decision, TAP is priority route for export of Azerbaijani gas to Italy.

"We are pleased to confirm that TAP has been selected by Shah Deniz as the pipeline route to Italy. We will now enter into exclusive negotiations with them on progressing the project. We look forward to progressing the TAP project together with the Shah Deniz Consortium and the Italian, Albanian and Greek Governments".

Tungland said that TAP will now enter into exclusive negotiations with the Shah Deniz consortium on progressing the project.

"We look forward to progressing the TAP project together with the Shah Deniz Consortium and the Italian, Albanian and Greek Governments," he said.

TAP's shareholders are EGL of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent).

The total length of TAP is about 800 kilometers. The initial pipeline capacity of TAP will be 10 billion cubic metres per year, expandable to 20 billion cubic metres per year.

TAGS: Trans Adriatic Pipeline, Managing Director of the Trans Adriatic Pipeline, Kjetil Tungland, Shah Deniz consortium, Southern Gas Corridor projects, Greece, Albania, Adriatic Sea