SOCAR, BP, Total to join TAP gas pipeline project

01.07.2013 [13:31]
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Baku, July 1 (AZERTAC). Azerbaijani state energy company SOCAR plans to join the Trans Adriatic Pipeline (TAP) project for natural gas deliveries to Europe, together with BP and Total, by the end of this year.

"SOCAR, BP and Total will join TAP in the framework of 50-percent share that was offered to us before," Elshad Nasirov, SOCAR vice president, told reporters.

"It will happen before an investment decision is taken, before the end of this year."

The Trans Adriatic Pipeline (TAP) supports the European Union’s strategic goal of securing future energy supply. TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan, via Greece and Albania, and across the Adriatic Sea to Southern Italy, and further to Western Europe.

TAP offers the shortest and most direct link from the Caspian region to the most attractive European markets with the most competitive gas tariff.

The project is designed to expand transportation capacity from 10 to 20 bcm per year, depending on supply and demand.

TAP also allows for the development of natural gas storage facilities in Albania to further ensure security of supply to European markets during any operational interruptions.

TAP will promote economic development and job creation along the pipeline route and it is the only pipeline in the Southern Gas Corridor not dependent on public money.

SOCAR, BP, Total to join TAP gas pipeline project

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