(MENAFN- AzerNews) By Leman Mammadova
Trans Adriatic Pipeline (TAP) is a major project to export natural gas from Azerbaijan to the European markets. The pipeline project provides for Europe's energy security and diversification of its energy resources.
The deliveries of Azerbaijani gas via the TAP to Italy may begin in the third quarter of 2020, Luca Schieppati, Managing Director of TAP AG, said speaking at the energy summit in Italy on September 23.
Schieppati described the TAP as a priority for the current Italian government.
'The government has just renewed and extended the document on Environmental Impact Assessment that would have expired yesterday, so we can go on working. This shows that the project is a priority for the government, he stressed.
Schieppati noted that construction work in Greece and Albania is underway as scheduled. As for Italy, TAP AG is working with the Ministry of Environment on the last secondary permits, and is expected to confirm the gas delivery to Italy in the last quarter of 2020.
He stressed that the company started the market tests on the possibility of doubling the pipeline's gas capacity from 10 to 20 billion cubic meters. 'Technically there are no problems to increase the capacity of the pipeline. Only, it will be necessary to build in Greece and Albania on existing pipes, Schieppati added.
Worth 4.5 billion euros, TAP is a part of Southern Gas Corridor project that envisages transportation of gas from Azerbaijani Shah Deniz-2 gas field to Greece and southern Italy across the Adriatic Sea through Greece and Albania, and involves designing, construction and operation of the natural gas pipeline.
TAP project 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.
The initial capacity of TAP will be 10 billion cubic meters of gas per year with the possibility of doubling it. About 90 percent of TAP pipeline construction works were implemented.
TAP may bring a net profit of 238 million euros after the first year of operation, that is, in 2021, according to the estimates of one of the partners of the TAP AG consortium.
TAP shareholders include BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).
Trans Adriatic Pipeline AG is a joint venture company registered in Baar, canton Zug, Switzerland, with a purpose of planning, developing and building the TAP pipeline.
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