ECONOMY


Spain’s Enagás spends 84,8 million euros for TAP project in the first half of 2017

Baku, August 7, AZERTAC

The volume of investments made in the Trans Adriatic Pipeline (TAP) project by Spain’s Enagas company, one of the project’s shareholders, stood at 84.8 million euros in the first half of 2017, according to the company’s report.

Net investments made by the company as of June 30, 2017 were 202 million euros.

"Of this amount, 35 million euros corresponds to investment in Spain and 167 million euros correspond to ongoing international investment, in which the investment in TAP stands at 84.8 million euros," said the report.

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 Italy’s south.

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

TAP’s shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

© Content from this site must be hyperlinked when used.
Report a mistake by marking it and pressing ctrl + enter

FEEDBACK

Fields with * are required.

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