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TAP and ICGB sign Memorandum of Understanding

07 January 2014 08:04 (UTC +04:00)

The MOUC will allow for cooperation between the two companies who will work together on realising a possible interconnection point in the vicinity of Komotini, Greece. This will enable new gas supplies to flow into the Bulgarian gas network and further into the South Eastern Europe region.

Lutz Landwehr, Commercial Director of TAP, said: “We welcome this agreement with ICGB and see it as an opportunity to transport Caspian gas to Bulgaria, thus enhancing diversification of supply and improving security of supply in the country and in the wider South Eastern Europe Region”.

Following the signature of the MOUC, TAP and ICGB will start a cooperation focused on understanding the technical requirements of each project, exchanging views on best practices and on any other relevant issues that affect t he development of either project.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 870 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy. The TAP shareholders are: SOCAR (20 per cent), BP (20 per cent), Statoil (20 per cent), Fluxys (16 per cent), Total (10 per cent), E.ON (9 per cent) and Axpo (5 per cent).