Trans Adriatic Pipeline: South Eastern Europe is key to building a pan-European gas market
The Trans Adriatic Pipeline today hosted the first South Eastern Europe Gas Forum in Brussels, focussing on the potential growth and demand for gas in the region.
Brussels, Belgium. The Trans Adriatic Pipeline today hosted the first South Eastern Europe Gas Forum in Brussels, focussing on the potential growth and demand for gas in the region. Opening the conference, Kjetil Tungland, TAP Managing Director said: “Many countries in South Eastern Europe are keen to secure supplies of gas in to the region from the Shah Deniz Phase II development and other potential Caspian sources. TAP is the only pipeline which can fulfil this vision in a cost-effective, technically reliable and commercial way. In order to turn this vision into reality, it is important that the Shah Deniz consortium makes the appropriate decision soon. Once TAP is realised, then the connections to the South Eastern European markets - through the Ionian Adriatic Pipeline and other systems - can be implemented quickly.”
Stimulated by solid economic growth – around 2 to 5% increase of GDP a year – the South Eastern Europe market will register a rise in energy demand in the near future. The collective aspiration to join the EU will also drive these countries towards a more environmentally balanced energy portfolio, making natural gas a crucial energy source.
“Connecting South Eastern Europe to Caspian gas supplies will diversify the region’s energy sources and contribute to the creation of a truly pan-European gas market. In the past year, TAP has taken concrete steps to bring this initiative forward, concluding agreements with the developers of the Ionian Adriatic Pipeline, Plinacro, BH-Gas and Geoplin Plinovodi, as well as with the relevant authorities in Montenegro and Albania”, Tungland added.
Addressing the conference, Jerko Jelić-Balta, President of the Board of Plinacro, the Croatian gas transmission system operator, said: “Of all the projects in the Southern Gas Corridor TAP is the one which has been developed to the greatest extent. This is why Plinacro is focused on the synergy between the Ionian Adriatic Pipeline and TAP. Beyond the construction of gas infrastructure and gas market development in the region, TAP and the IAP will support regional integration, bringing large political benefits for Europe as well.”
Closing the conference, Tungland said: “I am delighted that TAP has taken the initiative to encourage an open and transparent debate on the opportunities available to gas buyers and suppliers in South Eastern Europe. We were also encouraged to hear that Commissioner Oettinger approves of TAP's initiative to increase security of supply in the region and we look forward to continued dialogue on this issue.”
Lisa Givert, Head of Communications, TAP: +41 79 536 60 16, lisa.givert@tap-ag.com
About Trans Adriatic Pipeline (TAP)
The Trans Adriatic Pipeline (TAP) is a natural gas pipeline project that will transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into western Europe. The project is aimed at enhancing security of supply as well as diversification of gas supplies for the European markets. TAP will open a new so-called Southern Gas Corridor to Europe and establish a new market outlet for natural gas from the Caspian Sea and beyond.
The project is designed to expand transportation capacity from 10 to 20 bcm per year. TAP also envisages physical reverse flow of up to 80 per cent and the option to develop natural gas storage facilities in Albania to further ensure security of supply.
TAP’s transportation solution will be approximately 800 kilometres in length (Approx.: Greece 478 km; Albania 204 km; offshore Adriatic Sea 105 km; Italy 4 km). Transport will begin near the Greek-Turkish border (Komotini), cross Albania and the Adriatic Sea, and connect with the Italian natural gas distribution system near San Foca in Italy.
TAP’s shareholders are EGL of Switzerland (42.5%), Norway’s Statoil (42.5%) and E.ON Ruhrgas of Germany (15%).
TAP has its headquarters in Baar, Switzerland and branch offices in Athens, Rome, Tirana.
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