ECONOMY


European Commission allocates €14 million to TAP project

Baku, February 22, AZERTAC

EU Member States agreed on the European Commission's proposal to invest €444 million in priority European energy infrastructure projects, including €14 million in Trans-Adriatic Pipeline that will carry gas from Azerbaijan to Europe. “The 18 selected electricity, smart grids and gas projects will contribute to achieving the Energy Union's goals by connecting European energy networks, increasing security of energy supply, and contributing to the sustainable development by integrating renewable energy sources across the EU,” the commission said in a statement.

The allocation to TAP will be spent on archeological trial trench investigations and rescue excavations.

Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.

Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3500-kilometre long gas value chain stretching from the Caspian Sea to Europe.

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 Albania’s mountains, while its lowest point will be 820 meters beneath the sea.

The shareholders of the project are BP, State Oil Company of Azerbaijan, Snam, Fluxys, Enagas and Axpo.

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