ECONOMY


TAP among top 10 of the world's major investment projects

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Baku, January 6, AZERTAC

Trans-Adriatic Pipeline (TAP) project has been included in the list of the world's top 10 major investment projects due to economic importance.

According to ilsole24ore.com, TAP ranked 7th in the list. A maglev line between the Japanese cities of Osaka and Tokyo topped the list.

The approximately 870 km long TAP will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy. TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe.

TAP’s landfall in Italy, the third largest gas market in Europe, provides multiple opportunities for further transport of Caspian natural gas to some of the largest European markets such as Germany, France, the UK, Switzerland and Austria.

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

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