Greece, Italy and Albania closed deal on TAP gas transport route

, SEE Energy News

Greece, Italy and Albania will sign the support contract for natural gas pipeline construction from Caspian Lake to West Europe.
Greek Prime Minister Antonis Samaras will participate the ceremony of signing the agreement what presents support to this project financed with 1,5 billion EUR of assets from private sector. This project is known as Trans Adriatic Pipeline (TAP), AP Agency reported.

Pipeline is 800 km long and it would have 10 billion cubic meters of natural gas as initial annual capacity.

Project’s shareholders are Swiss Association Axpo, Norvegian Company Statoil and German Company E.ON Rurgas.
TAP is one of the projects for gas transport from Azerbaijani field “Sah Deniz II” to Europe that should decrease European dependence of current deliverers, except for Russia.

Agreement will be signed by Greek Minister of Foreign Business Dimitris Avramopulos, Albanian Minester of Finance and Energy Edmond Hadzinasto and Italian Minister for Economy Development, Infrastructure and Traffic Kolorado Pasera- it was stated in the Ministry of Foreign Business in Athens. Azerbaijani Government’s representatives will also participate in the ceremony.

Source Serbia Energy SEE Desk/Agencies