Baku, November 14, AZERTAC
Trans Adriatic Pipeline (TAP) has signed a Letter of Intent, marking the final stages of negotiation of the Maintenance Agreement talks between TAP and Albgaz Sh.a and Snam S.p.a. – a joint venture that will establish a special purpose entity to act as the maintenance service provider for the Trans Adriatic Pipeline on the territory of Albania, according to tap-ag.com.
The finalisation of the talks was celebrated in a ceremony attended by Damian Gjiknuri, the Minister of Infrastructure and Energy in Albania, members of the Albanian Parliament, Albgaz, Snam, as well as TAP management. Participants also included representatives from the diplomatic corps and other key stakeholders.
TAP Managing Director Luca Schieppati said: “I am very pleased to be here today to mark another step forward in putting further pieces of this strategic infrastructure in place, bringing us to a successful start of operations in 2020. TAP is proud to be contributing to the development of the Albanian gas market. We look forward to supporting and working together with the soon to be established maintenance service provider”.
Albgaz, the Albanian gas transmissions system operator, was established shortly after the signing of the amended Host Government Agreement between the Albanian Government and TAP - Snam being one of the most experienced gas Transmission System Operators in Europe. TAP is confident that the Albgaz/Snam JV established special purpose entity will ensure the safe and efficient maintenance of the Trans Adriatic Pipeline in Albania, following first gas in 2020
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 in 2020.
TAP’s shareholding is comprised of BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
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