The Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe, is 88.5 percent complete, Report informs citing SOCAR.
According to the information, the works on the project are carried out under the schedule.
Notably, TAP pipeline, which is a part of the Southern Gas Corridor project, will initially supply Europe with 10 billion cubic meters of gas produced within the framework of the Shah Deniz-2 project annually. On the territory of Kipoi, near the Turkish-Greek border, the pipeline will be connected to the Trans-Anatolian Pipeline (TANAP) and run through Greece, Albania and the Adriatic Sea to southern Italy.
TANAP is ready for gas transportation. With its activity in the implementation of the SGC, SOCAR proved that it is able to implement the projects timely and effectively. Thus, during the construction of the TANAP project with the primary investment value of $11.7bn, it saved nearly $5 billion. Jointly with its partner, SOCAR managed to reduce the total costs of the project by 40%.