Azernews.Az

The Trans Adriatic Pipeline (TAP) is the only pipeline which can fulfill the South Eastern Europe's wish to get Caspian gas in a cost-effective and technically reliable way, Kjetil Tungland, TAP Managing Director said at the conference in Brussels.

The Trans Adriatic Pipeline hosted the first South Eastern Europe Gas Forum in Brussels, focusing on the potential growth and demand for gas in the region, TAP reported.

"Many countries in South Eastern Europe are keen to secure supplies of gas to the region from the Shah Deniz Phase II development and other potential Caspian sources. TAP is the only pipeline which can fulfill this vision in a cost-effective, technically reliable and commercial way," Tungland said opening the conference.

Once TAP is realised, then the connections to the South Eastern European markets - through the Ionian Adriatic Pipeline and other systems - can be implemented quickly, he said.

The Trans Adriatic Pipeline will transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into Western Europe. The project is aimed at enhancing security of supply as well as diversification of gas supplies for the European markets. The total length of the pipeline is about 800 kilometers. The initial pipeline capacity will be 10 billion cubic meters per year. TAP's shareholders are EGL of Switzerland (42.5%), Norway's Statoil (42.5%) and E.ON Ruhrgas of Germany (15%).

The gas produced within the second phase of the Azerbaijani Shah Deniz Field is considered to be the main gas source for TAP project.

Early in October TAP along with the other pipeline projects submitted a comprehensive transportation proposal to the Shah Deniz 2 consortium, which will make its decision on preferred transportation route by the end of this year.

"Connecting South Eastern Europe to Caspian gas supplies will diversify the region's energy sources and contribute to the creation of a truly pan-European gas market," Tungland said.