“This is a concrete step towards the completion of the Southern Corridor, to the benefit of Europe’s energy security and competitiveness. And it is an important step in intensifying our bilateral relations with Azerbaijan, whose leading trade partner is Italy”, she said.
Note that 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.
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