(MENAFN - Trend News Agency) Baku, Azerbaijan, April 15
By Leman Zeynalova – Trend:
Italy would 50 percent depend on gas imports through Germany without the Trans Adriatic Pipeline (TAP), said TAP Managing director Luca Schieppati.
He pointed out that diversification of sources is vital and TAP helps a lot in this sense.
"If there were no TAP, Italy would more than 50% depend on imports through Germany, with a possible increase in transport costs,' Schieppati said, Trend reports citing TAP AG consortium.
He pointed out that Italy is the European country with the greatest use of natural gas: methane accounts for 36 percent of energy consumption and 44 percent of electricity production. Around 82 percent of families use gas to heat and cook, added TAP managing director.
"The demand for gas is increasing in Europe, because it is linked to the commitment to reduce the use of coal and nuclear power and to ensure transition to a large-scale use of renewable energy,' added Schieppati.
TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU). The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.
Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.
The project is currently in its construction phase, which started in 2016.
Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3,500-kilometer long gas value chain stretching from the Caspian Sea to Europe.
TAP shareholders include BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
Follow the author on Twitter: @Lyaman_Zeyn
Follow Trend on Telegram. Only most interesting and important news