TAP underwater works will be launched in early 2018

Baku. 8 August. REPORT.AZ/ “Half of the Trans Adriatic Pipeline (TAP), located in the territory of Albania, has been constructed. We expect that 800 mln. EUR will be invested in Albania’s economy in next two years.” 

Report informs citing the Albanian Telegraph Agency, TAP Country Manager for Albania Shkëlqim Bozgo said.

According to Bozgo, a total of 1,5 billion EUR will be invested in TAP: “It is planned to invest 1,5 billion EUR in TAP from 2016 till the completion of the works. 2017 and 2018 will be very intensive, and we expect that 400 mln. EUR will be invested in the project every year.”

The TAP official said that Albania makes 4% of GDP.  Moreover, about 2, 000 Albanians have been provided with jobs in the project: “The underwater works of the project are planned to start in early 2018 and continue for several years. This is the easiest part taking into account the technological development. Besides, the pipeline will be tested in 2019.”

Notably, groundbreaking ceremony of TAP was held in Greece’s Thessaloniki city on May 17, 2016.

The shareholders of TAP are BP (20%), SOCAR (20%), “Snam S.p.A.” (20%), “Fluxys” (19%), “Enagas” (16%) and “Axpo” (5%).