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Enagas committed to TAP as key infrastructure for Europe

Wednesday, May 17
The Trans Adriatic Pipeline (TAP) project will mean a more sustainable supply of energy, in line with the European Unionís objectives, a source in Spainís Enagas Company, which is one of the projectís shareholders, told Trend.

"Enagas is committed to the TAP project as a key infrastructure for Europe," said the source. "It is a part of the larger Southern Gas Corridor project and will offer connections to multiple North European and Europeís South East region markets."

Regarding the companyís future activities, the source said that in the coming months, Enagas will continue supporting and cooperating in the implementation of the project.

Furthermore, the company supports and assists in the promotion of benefits of TAP from stakeholder and governmental relationship issues, according to the source.

"Enagas has positioned itself as an active shareholder in TAP by leveraging on its ample experience in the midstream sector," said the source. "Together with its fellow shareholders at TAP, it has supported the company [TAP AG] in defining and executing its strategy, and on tackling TAPís main challenges."

As for the possibilities of further expanding the scope of the companyís activities, the source noted that Enagas is focused nowadays on consolidating the position in regions where it already operates.

TAP is a part of the Southern Gas Corridor, which is one of the priority energy projects for the European Union. The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.

The pipeline will connect 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 Italyís south.

TAP will be 878 kilometers in length (Greece 550 kilometers, Albania 215 kilometers, Adriatic Sea 105 kilometers, and Italy 8 kilometers).

TAPís shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent). (Trend.az)