Intergovernmental TAP agreement is solid foundation for development of project, TAP Managing Director
Baku, February 14 (AZERTAC). “The intergovernmental TAP agreement is a solid foundation and provides long-term security for development of the project,” TAP Managing Director Kjetil Tungland said.
Tungland expressed gratitude to all governments for their support in signing such important agreement.
"We now look ahead to continuing our fruitful cooperation in making the TAP project a reality," Tungland added.
Greece, Italy and Albania have signed an agreement on TAP. The document was signed by Greece's Foreign Minister Dimitris Avramopoulos, Albanian Deputy Prime Minister Edmond Haxhinasto and Italian Minister of Economic Development Corrado Passera in Athens.
TAP's External Affairs Director Michael Hoffmann stated that the signing of the intergovernmental agreement further reinforces the transit governments' support for TAP from a legal and regulatory perspective.
“For TAP, this concludes the last remaining high level international political agreement that is important for the choice by the Shah Deniz Consortium," Hoffmann said.
TAP is one of the two options -- along with Nabucco West -- which is currently considered by the consortium developing Azerbaijan's giant offshore Shah Deniz field to deliver its gas to European markets.
Azerbaijan plans to export 10 billion cubic meters of gas a year to Europe within the second stage of the Shah Deniz development.
In case TAP is selected as a final pipeline route to transport Azerbaijani gas to Europe, the construction of the pipeline will start in 2015.