(MENAFN- Trend News Agency) BAKU, Azerbaijan, Nov.16
By Leman Zeynalova – Trend:
The commissioning of the Trans Adriatic Pipeline (TAP) is a long-awaited and impressive milestone for all stakeholders, Trend quotes Murray Douglas, Wood Mackenzie Research Director, as saying.
'It is the first delivery of contracted Azerbaijani gas beyond Turkey, provides a fourth gas import pipeline corridor for the EU, boosts diversification and energy security, and is an inflection point for import-reliant gas markets in Italy, Bulgaria and Greece.
TAP's commissioning enhances Italy's supply options as it forges ahead with plans to decarbonise. It represents the first major pipeline project not underpinned by contracts with Eni. It will also improve the liquidity of Italy's PSV gas hub and open more opportunities for south-to-north flows in the country.
"For the Southern Gas Corridor project and its many stakeholders, TAP's launch is the end of the beginning, not the end itself. A scenario without TAP expansion to 20 bcm per year would be a failure against the initial objectives, especially for European supply security. All eyes will be on the binding phase of TAP's market test in summer 2021. This could be a bellwether for the post-lockdown recovery of European gas fundamentals.
"Despite the European Green Deal and current market uncertainty, we are positive on the outlook for TAP expansion", he said.
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