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Italian PM to visit Azerbaijan on August 11

08 August 2013 07:48 (UTC +04:00)

During the visit, Letta will discuss the issues on TAP gas pipeline and thank Azerbaijan for selecting this project.

Letta declared his decision to visit Azerbaijan in late June, during press conference in Italy.

On June 28, Azerbaijan officially announced the selection of the Trans Adriatic Pipeline (TAP) for natural gas deliveries to Europe.

The TAP is 520 km long, which enables the transport of gas from the Caspian Sea through Greece, Albania, the Adriatic Sea and Italian region of Puglia into the Western Europe. Total cost of the project makes approximately $2.2 bln. Annual capacity of the pipeline would make 10 bcm, in the future – 20 bcm.

At present time, the project has 3 shareholders: Swiss Axpo (42.5%), Norwegian Statoil (42.5%) and German E.ON Ruhrgas (15%) companies.