Swiss minister to push for TAP project in Baku
Switzerland's Energy Minister Doris Leuthard is due to arrive in Azerbaijan for an official visit on Monday, according to the Swiss embassy in Baku. The main goal of the visit is to give support to the Trans-Adriatic Pipeline (TAP) gas project in which Swiss EGL, Norwegian Statoil and German E.ON Ruhrgas hold stakes.
TAP, one of Southern Gas Corridor pipeline projects, which seek to diversify energy supply routes and sources and increase the European Union countries’ energy security, envisages gas exports from the Caspian Sea and Middle East regions to European markets. The pipeline’s initial capacity will be 10 billion cubic meters per year. The pipeline is to be commissioned by 2017.
EGL holds a 42.5 percent stake in the $2.2 billion project, while Statoil has 42.5 percent and E.ON Ruhrgas 15 percent.
Leuthard is scheduled to meet with the Azerbaijani president and energy minister.
During the visit, discussions will also focus on prospects for cooperation in developing renewable energy sources.
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