ECONOMY


Albania, TAP revise pipeline deal

Baku, December 21 AZERTAC

Albania's Energy Ministry and the Trans Adriatic Pipeline have amended their agreement to give more financial support and assistance to Albania.

The statement of Albanian Energy and Industry Ministry said that the sides agreed on reviewing payments, increasing investments in communities and training the local gas sector following seven months of negotiations.

TAP project, which envisages transportation of gas from the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field to the EU countries, is expected to develop the European natural gas system. The pipeline comprises the final step of the highly ambitious Southern Gas Corridor project.

The pipeline will be connected to the Trans Anatolian Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.

Energy security is one of the fundamental concerns of Albania, which depends heavily on hydropower. Natural gas demand in the country is expected to reach 1.8 billion cubic meters per year by 2020 according to the Energy Ministry of Albania.

Along with contributing to the energy security of the country, TAP is expected to increase the geostrategic importance of Albania by contributing to the energy security of the whole Balkans.

© Content from this site must be hyperlinked when used.

FEEDBACK

Fields with * are required.

Please enter the letters as they are shown in the image above.
Letters are not case-sensitive.