Baku. 26 September. REPORT.AZ/ “Trans Adriatic Pipeline (TAP) project is of strategic importance for Italy and Europe.”
Report informs, TAP AG managing director Luca Schieppati said in his speech at the Italian energy summit in Milan.
L.Schieppati told about the importance of TAP project for the region: “TAP is important project in terms of facilitating supply in a faster and safe way in gas market. It will meet the demand for a gas of about 7 million families in Balkans and Western Europe”, he said.
After reviewing various selection options during two years, on June 28, 2013, 'Shah Deniz' Consortium has officially declared selection of the TAP project. The pipeline is 878 kilometers long, 550 km of which will cover Greece, 215 Albania, 105 Adriatic Sea and 8 km Southern Italy. Highest point of the pipeline will be in the mountains of Albania (1 800 meters), the lower part (-820 meters) beneath the sea.
TAP's groundbreaking ceremony was held in Thessaloniki, Greece on May 17, 2016. Azerbaijani gas will be delivered to Europe in 2020.
BP (20%), SOCAR (20%), 'Snam S.p.A.' (20%), 'Fluxys' (19%), 'Enagas' (16%) and 'Axpo' (5%) companies acting as TAP shareholders.