ECONOMY


Trans Adriatic Pipeline project wins Philanthropy Award

Baku, February 28, AZERTAC

The Albanian partners handed the Trans Adriatic Pipeline (TAP) the Philanthropy Award for its social contribution at the national level.

Representatives of the Albanian Government, Albanian Parliament, and diplomatic corps accredited in Tirana, Albanian and foreign companies and non-governmental organizations joined the awards ceremony for 2018.

TAP has been nominated for the Philanthropy Award as a national company for 2018 by the Catalyst Balkans Foundation. This regional foundation monitors and encourages the social investments of private companies.

The Trans Adriatic Pipeline (TAP) will transport natural gas from the giant Shah Deniz 2 field in Azerbaijan via Greece, Albania to southern Italy and further 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 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 to Georgia and Turkey now being delivered, 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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