The Trans-Adriatic Pipeline (TAP) is ready to expand its capacity one year in advance if needed to meet market demand, Managing Director Luca Schieppati told Italian daily Il Messaggero in an interview published on Tuesday, Report informs, citing Reuters.
"We offered to the market to speed up the timings... We are willing to expand our capacity one year in advance, also because we already have the go ahead of the regulatory authorities," Schieppati told the paper, adding TAP was ready to sign transport contracts from October 1 should the market ask for it.
TAP consortium began market testing in connection with the expansion of the pipeline in 2021. The testing is being conducted to identify the interest of natural gas suppliers and ensure reliable access to new long-term capacity in the next phase, which will increase the capacity of the pipeline in the future.
The market testing will be conducted in two main phases: an optional phase starting on July 12, 2021, followed by a mandatory phase expected to start no earlier than summer 2022.
As Luca Schippati said earlier, about 6 months after the start of gas supplies through TAP, more than 3 billion cubic meters of gas were transported to Europe.
With an annual throughput of the pipeline of about 10 billion cubic meters, the capacity of TAP can be gradually expanded twofold, he said, adding that additional volumes of gas could reach European markets, supporting the transition to a cleaner energy mix, especially in South East Europe.
The market test is conducted in accordance with the rules and procedures specified in the 2021 Trans Adriatic Pipeline Market Test Guidelines approved by the national regulators of Greece, Italy and Albania.
At the end of 2021, 8.1 billion cubic meters of natural gas were transported via TAP.
TAP is the final leg of a $40 billion project named the Southern Gas Corridor. TAP stakeholders are BP , SOCAR, and Snam (SRG.MI), with a 20% holding each, plus Fluxys (FLUX.BR) with a 19% stake, Enagas (ENAG.MC) with 16%, and Axpo with 5%.