Azernews.Az

The Greek government confirmed Trans Adriatic Pipeline (TAP) as a key strategic project for the country at a meeting with TAP shareholders, Trend news agency reported.

TAP reported on Tuesday that at the meeting between Greek Prime Minister Antonis Samaras and representatives from TAP international shareholders and senior management, the Greek government reiterated support for the project as one of major importance for Greece and for the EU's energy strategy.

According to TAP Managing Director Kjetil Tungland, TAP greatly welcomes the Greek government's continued support, which strengthens the Greek route's chances as the date for making a decision on the Southern Gas Corridor draws closer.

TAP project 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 within the second phase of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for TAP.

TAP's initial pipeline capacity will be 10 billion cubic metres per year, but is expandable to 20 billion cubic metres per year. TAP's shareholders are AXPO of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent).

The Shah Deniz consortium will make its final decision on a pipeline route in June, 2013.