TAP's Expansion Could Contribute To Europe's Energy Transition Managing Director
Date
9/6/2022 10:08:33 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, Sept.6. Trans Adriatic
Pipeline's (TAP) expansion could contribute to Europe's energy
transition, Luca Schieppati, TAP Managing Director, said,
addressing the Gastech exhibition and Conference, Trend reports.
“TAP's expansion capacity is offered to the market through
regular market tests. The 2021 market test is in progress with its
first binding phase taking place in November,” he noted.
Schieppati went on to add that the industry is now focused on
hydrogen to achieve carbon neutrality.
“At TAP we have embraced this notion from the outset. An initial
hydrogen readiness study we ran in 2021 confirmed that TAP has the
potential to transport hydrogen,” TAP managing director
explained.
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).
---
Follow the author on Twitter: @Lyaman_Zeyn
MENAFN06092022000187011040ID1104819244
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.