ECONOMY


TAP supports soil studies and financial management training

Baku, June 2, AZERTAC

In the context of its Livelihood Assistance and Transitional Support (LATS) programme, the Trans Adriatic Pipeline (TAP AG) is implementing the first two initiatives for its host municipalities in Northern Greece, conducting soil studies and offering focused financial management training. Having paid in full compensations for the land easement and acquisition in Greece, the project continues to support households affected by the construction of the pipeline, with actions aiming to enhance their existing standards of living.

TAP applies the principles of the European Bank of Reconstruction and Development (EBRD), as well as other international standards. Both initiatives have been developed in the robust framework of these rules, in order to ensure that affected households will restore and –improve where possible– their income streams, crop production levels and living standards as compared to before TAP’s construction.

For the soil studies, TAP is collaborating with specialists from the Agricultural University of Athens. The team of scientists produces soil analyses of the affected agricultural land that the pipeline crosses in Greece and has already conducted relevant studies for approximately 18% of TAP’s Greek section (more than 100km out of the 550km). The results of these studies will provide TAP with useful information that will assist in the monitoring of the land reinstatement process and in the development of suggestions for improved soil quality.

The financial management training pertains to seminars implemented with the collaboration of Deloitte, for households affected by the project’s land easement and acquisition process. The training covers topics such as family budgeting and economics; savings and investment options; insurance for farmers; as well as information about tax obligations and deadlines.

The first seminars have been held in Antheia (Alexandroupolis Municipality), Kosmio (Komotini Municipality) and Chrysoupoli (Nestos Municipality). Additional seminars have been scheduled to assist locals in the wider communities along the pipeline route improve their livelihoods.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 878 km long pipeline 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’s routing can facilitate gas supply to several South Eastern European countries, including Bulgaria, Albania, Bosnia and Herzegovina, Montenegro, Croatia and others. TAP’s landfall in Italy 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 will promote economic development and job creation along the pipeline route; it will also be a major source of foreign direct investment. With first gas sales to Georgia and Turkey targeted for late 2018, first deliveries to Europe will follow around early 2020.

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

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