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$0.8B spent to TAP so far

29 March 2016 12:08 (UTC +04:00)

Baku. Agshin Rafigoglu - APA-Economics. As of December 31, 2015, expenditures for Trans Adriatic Pipeline made €0.6 billion or $0.8 billion.

Intrefax reported that capital expenditures for TAPis expected to make $6 bln or €5.1 bln.

TAP is a pipeline project to transport natural gas from the Caspian sea (Azerbaijan), starting from Greece via Albania and the Adriatic Sea to Italy and further to Western Europe. The initial capacity of the pipeline will be about 10 billion cubic metres (350 billion cubic feet) of natural gas per year, with the option to expand the capacity up to 20 billion cubic metres (710 billion cubic feet). The pipeline is expected to transport Azerbaijani gas in late 2019.

Shareholders of the Trans Adriatic Pipeline are BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagas (16%) and Axpo (5%).

Length of the pipeline is 1,800 km.