Albania's national regulatory authority, ERE, has finalized the certification procedure of the TAP AG (Trans Adriatic Pipeline), a transmission system operator under the Third Energy Package, which was a precondition for the pipeline's construction scheduled for May 2016, the Energy Community reported.
ERE's national decision is accompanied by the Final Joint Decision on the certification of TAP issued jointly by the Albanian, Greek and Italian regulatory authority.
ERE's decision creates a high level of transparency while respecting TAP AG's specific governance features during the period of construction of the pipeline, the message said.
The TAP pipeline is meant to transport natural gas from the giant Shah Deniz 2 field in Azerbaijan to Europe. The approximately 870 km long TAP will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in southern Italy.
TAP's shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
TAP's initial capacity will be 10 billion cubic meters of gas a year, expandable to 20 billion cubic meters. The pipeline's construction is planned to start in May 2016.
Follow us on Twitter @AzerNewsAz