Legal framework for establishment of IAP Project Company almost completed

Baku. 21 February. REPORT.AZ/ The Ionic-Adriatic pipeline Project Management Unit (PMU) meeting was held on the sidelines of the 5th Southern Gas Corridor Advisory Council ministerial meeting on 20 February 2019 in Baku, SOCAR spokesman Ibrahim Ahmadov told Report.

According to him, the representatives from respective ministries and companies of Albania, Croatia, Montenegro and “SOCAR Balkans” (the affiliate of SOCAR) participated in the meeting.

He noted that the progress in the establishment of IAP Project Company and the implementation status of the project action plan were discussed at the meeting: ‘The PMU concluded that the legal framework for the establishment of the Project Company is almost completed and the participant companies submitted the relevant documents for the approval by respective countries’.

According to him, the PMU expressed confidence that the IAP Project Company will be established within next few months: ‘IAP project will connect TAP pipeline to Croatian gas distribution system, enabling the transportation of natural gas across the Southeast, Central and Eastern Europe. SOCAR through its affiliate “SOCAR Balkans” provides technical consultancy services to IAP Project and has the observer status in PMU’.