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Director of the Swiss Federal Office of Energy to visit Azerbaijan

08 January 2013 16:19 (UTC +04:00)

Within the visit to take place on January 16-17, Steinmann will hold a number of official meetings in Azerbaijan, discuss economic cooperation issues.

The meetings will also focus on Trans Adriatic Pipeline project.

Before Azerbaijan, Steinmann will pay visit to the UAE.

Note that the project plans to build a 520 km gas pipeline that will connect Greece with Italy via Albania and the Adriatic Sea. Total construction costs are expected to be about €1.5 billion. TAP is co-led by Statoil, Swiss EGL and Germany's E.ON Ruhrgas companies.

Reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas. The Shah Deniz consortium includes BP (25.5%), Norway's Statoil (25.5%), Iran's NIOC (10%), SOCAR (10%), France's Total (10%), Russia's Lukoil(10%) and Turkey's TPAO (9%).