ECONOMY


Trans Adriatic Pipeline included in European Commission's list of 33 priority energy security projects of common interest

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Baku, August 15 AZERTAC

The Trans Adriatic Pipeline project has been included in the European Commission's list of 33 priority energy security Projects of Common Interest.

The project concerns the financing and construction of the Trans Adriatic Pipeline (TAP), which is the western part of the Southern Gas Corridor that goes from the Greek/Turkish border to Italy through Albania.

The European Commission in its positive decision to grant exemption to the pipeline from third party access highlighted the "overall positive impact for the EU of this investment as it is responding directly to the Security of Supply objective of diversification of gas sources, routes and counterparties".

Refinement and changes of pipeline routing resulted in modifications to the ESIA reports in all countries. Environmental permits have been granted for the Albanian and Greek sections; however the amendment process for the permit of the Greek section is ongoing. The Italian final authorisation in favour of the project has been issued in May 2015. The EIA documents can be accessed via the promoter's website.

The promoter applies public procurement procedures according to the relevant EU directives, EIB Procurement Guidelines and project specific procurement rules.

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation.

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