ECONOMY


TAP Invests €1 Million in energy-focused postgraduate programmes

Baku, September 22, AZERTAC

The Trans Adriatic Pipeline (TAP) AG presented its €1 million initiative for funding Master's programmes in the energy sector, offered by the University and the Technological Educational Institute (TEI) of Western Macedonia – the Prefecture's two tertiary education institutions. The investment is implemented in the context of the collaboration between TAP and the Bodossaki Foundation.

As part of this initiative, TAP subsidises 50% of tuition fees over 5 years for 90 students/year who will attend the Master programmes:

"Energy Resources Technologies & Management," offered by the University of Western Macedonia.

Greek-Azeri Inter-university programme "Petroleum Oil and Gas Management & Transportation," M.Sc. MOGMAT, offered by the TEI of Western Macedonia in collaboration with the Azerbaijan State University of Economics.

The funding was announced in an open event held at the Main Hall of the TEI of Western Macedonia in Kastoria. The participants included the Head of the Western Macedonia Prefecture, Mr. Theodore Karypidis, one of the project's main advocates; local MPs, the Mayor of Kastoria, the Dean of the University, the Rector of the TEI, members of the faculties, and students.

Professors Yiannis Bakouros and Evangelos Siskos, directors of the two Master programmes, presented them to the public and stressed the importance of postgraduate studies in energy systems for the country in general, and for Western Macedonia in particular.

Mr. Dimitris Vlastos, President of the Board of the Bodossaki Foundation and TAP's implementation partner in the project, spoke about the Foundation's activity and contribution.

And TAP's Country Manager for Greece, Katerina Papalexandri, referred to the significance and progress of the project in Greece, as well as the €32 million Social and Environmental Investment Programme that TAP is voluntarily implementing in the three Northern Greek Prefectures traversed by the pipeline. "With this initiative, we are investing in young people, we are supporting Greek higher education, and we are rendering these energy-focused postgraduate programmes more accessible to students," she concluded.

The Head of the Western Macedonia Prefecture, Theodore Karypidis, closed the event thanking TAP "a pipeline of synergies, friendship and knowledge" attuned to the needs of local communities that collaborates with their representatives to design and implement the project's social initiatives.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The 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 the economic development and job creation along the pipeline route; it will be a major source of foreign direct investment and it is not dependent on grants or subsidies. With first gas sales to Georgia and Turkey targeted for late 2018, first deliveries to Europe will follow in 2020.

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

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