TAP is most strategic solution for gas supply to South Eastern Europe: Hoffmann
By Gulgiz Dadashova
The Trans Adriatic Pipeline (TAP) is the most strategic solution for supplying gas to South Eastern Europe: it will contribute to boosting energy security in the region and enhance economic development, External Affairs Director of TAP Michael Hoffmann said.
Hoffmann made the remark on the occasion of the high-level meeting which included representatives from Azerbaijan, the European Commission and TAP in Dubrovnik, Croatia on June 12.
The Foreign Ministers of six countries - Albania, Bosnia and Herzegovina, Croatia, Greece, Italy and Montenegro - met on June 12 to demonstrate their support for the Trans Adriatic Pipeline (TAP) and for the Ionian Adriatic Pipeline (IAP).
Hoffmann said that they are pleased and grateful to receive strong and continuous political support for the TAP pipeline.
"The Dubrovnik meeting is a testament to our project's advanced status and unmatched benefits.
"With the Shah Deniz consortium decision on the Southern Gas Corridor expected by the end of the month, we remain confident that TAP is the best solution to transport Caspian gas to Europe: the shortest, most technically feasible and, above all, the only project ready for implementation," he said.
The Dubrovnik meeting follows the signature of a Memorandum of Understanding in support of the TAP and IAP pipelines by Albania, Bosnia and Herzegovina, Croatia and Montenegro in May 2013 as well as a declaration of support by the Adriatic Ionian Initiative Council.
Earlier this year in April, TAP's host countries --Italy, Greece and Albania-- held the first Trilateral Cooperation Committee Meeting in Rome, where they expressed their commitment to the realization of the project as per the Intergovernmental Agreement signed in February.
TAP will transport natural gas from the giant Shah Deniz 2 field in Azerbaijan to the most attractive markets in Europe.
Currently the Shah Deniz consortium considers two options to transport its gas to Europe - TAP and Nabucco West. The final decision on the European pipeline route will be made at the end of June.
The pipeline will connect with the Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.
Designed to expand the capacity from 10 to 20 bcm per year, TAP will open up the so-called Southern Gas Corridor, enhancing Europe's energy security by providing a new source of gas.
TAP's shareholders are Axpo of Switzerland (4 2.5%), Norway's Statoil (42.5%) and E.ON of Germany (15%). Shah Deniz Consortium members - BP, SOCAR and Total - have the option to join TAP, if it is selected in June 2013 as the gas transportation route to Europe, and they are currently funding the development of the TAP project.