Over 70% of territories along TAP reinstated [PHOTO]

28 August 2018 16:32 (UTC+04:00)

By  Trend

Some 72 percent of the territories along the Trans-Adriatic Pipeline (TAP) are reinstated, TAP AG consortium said Aug. 28.

"Reinstatement activities are in full swing. More than 550 kilometers or 72 percent of the territories along the route are reinstated to at least original condition," the message reads.

TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU), and has already attracted 1.5 billion euros from the European Investment Bank (EIB), which approved the loan in early February 2018.

Connecting with the Trans-Anatolian Natural Gas 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), Enagas (16 percent) and Axpo (5 percent).

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