Croatia Hopes For Further Financing Of Ionian Adriatic Pipeline

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 23. Croatia hopes for further financing of the Ionian Adriatic Pipeline (IAP).

"In the Guidelines for the Implementation of the Green Agenda for the Western Balkans, an accompanying document of the Economic and investment Plan for the Western Balkans, the IAP project has been recognised as a project worth supporting; therefore, we hope for the possibility of financing from other EU funds as well," Croatian gas transmission system operator Plinacro told trend .

The company said that in the preparatory phases it received a grant by the Western Balkans Investment Framework for the comprehensive feasibility study in the amount of EUR 3.5 million, while Montenegro and Albania additionally received a grant in the amount of EUR 4.2 million.

Ionian Adriatic Pipeline can be connected to the Trans Adriatic Pipeline (TAP) to transport gas to many countries in South-East Europe.

The pipeline with total length of 516 kilometers will stretch from Albania through Montenegro, and Bosnia and Herzegovina, to split in Croatia.

The capacity of the pipeline will amount to five billion cubic meters of gas per year.

TAP has already signed memorandums of understanding and cooperation with the developers of this project, in particular with companies of Plinacro (Croatia), BH-Gas (Bosnia and Herzegovina), Geoplin Plinovodi (Slovenia), as well as with the governments of Montenegro and Albania.

There has been created a TAP-IAP joint working group that gathers regularly to synchronize the timing of both pipeline projects and coordinate the technical issues of interconnection.


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