European Commission to allocate over 14M euros for TAP
Thursday, February 23The European Commission will allocate 14,018,347 euros for the Trans Adriatic Pipeline (TAP) project, which is meant to transport Azerbaijani gas to Europe.
These funds will be used for archeological trial trench investigations and rescue excavations to be carried out as part of the project, said the message posted on the European Commissionís website.
EU member states agreed on the European Commission's proposal to invest 444 million euros in priority European energy infrastructure projects. A total of 18 projects were selected for funding and TAP project is among them.
TAP is a part of the Southern Gas Corridor which is one of the priority energy projects for the European Union.
TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field to the EU countries.
The pipeline will be connected to the Trans Anatolian Natural Gas Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.
TAP shareholders are BP (20 percent), State Oil Company of Azerbaijan (20 percent), Snam (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).
TAP will be 878 kilometers in length (Greece 550 km, Albania 215 km, Adriatic Sea 105 km, and Italy 8 km). Its highest point will be 1,800 meters in Albaniaís mountains, while its lowest point will be 820 meters beneath the sea. (Trend.az)