TAP turning Italy into gas exporter| MENAFN.COM

Saturday, 02 July 2022 02:53 GMT

TAP turning Italy into gas exporter


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, Jan.19

By Leman Zeynalova – Trend:

The Trans Adriatic Pipeline (TAP) made it possible for Italy to export gas in the second half of December 2021, Trend reports with reference to Italian media.

“On the last day of 2021, Italy sold 20 million cubic meters of gas abroad, approximately 10 percent of its net consumption, which on stood at 214 million cubic meters on that day. Why can Italy, which is notoriously a large energy importer, afford to export gas even in times of skyrocketing prices? It was possible thanks to TAP, which through its 878 kilometers of length transports about 8 billion cubic meters of gas from Azerbaijan to Puglia, but also thanks to the country's storage system,” say Italian media.

The volume of natural gas transportation from Azerbaijan to Italy via the Trans Adriatic Pipeline from December 31, 2020 to December 31, 2021 stood at 6.8 billion cubic meters.

As the European section of the Southern Gas Corridor, TAP has the capacity to transport approximately 10 billion cubic meters of gas per annum (bcm/a) to several markets in Europe. The pipeline is also designed with the potential to expand its throughput capacity up to 20 bcm/a.

TAP is strategically and economically important to Europe and essential in providing reliable access to a new source of natural gas. TAP plays a significant role in boosting Europe's energy security, supply diversification, as well as decarbonisation objectives.

TAP's shareholding is comprised of bp (20 percent), SOCAR (20 percent), Snam (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

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Follow the author on Twitter: @Lyaman_Zeyn

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