ECONOMY


USA and European Union supports TAP project

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Baku, May 5 AZERTAC

U.S.-EU Energy Council reaffirmed that energy security, through access to reliable, affordable, diversified, efficient and sustainable energy in the United States and Europe, remains a fundamental objective. The Council reiterated its strong support for the opening of the Southern Gas Corridor, including the construction of the Trans-Adriatic Pipeline (TAP) and underscored the importance of the Greece-Bulgaria Interconnector and the construction of liquefied natural gas (LNG) terminals, in Croatia (with evacuation pipelines), as well as in Greece if there is market demand. The Council recognized that the abovementioned infrastructure improvements would play a critical role in bringing alternative gas supplies into the Southeast and Central European region. The Council also acknowledged the potential of the Iberian Peninsula as an important gas entry point for the EU, as well as the Baltic connector and the Poland-Lithuania gas interconnector, which would bring essential alternative gas supplies to Finland and the Baltic States. In the electricity sector, the Council recognized the importance of fully integrating the Baltic States into the EU's internal energy market and welcomed the completion of the Lithuania-Poland and Lithuania-Sweden power interconnections in December 2015.

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