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TAP welcomes Greek cooperation to ensure project success

04 settembre 2012

Greece’s Foreign Minister, Dimitris Avramopoulos, expressed the Greek government’s commitment to realizing the Trans Adriatic Pipeline (TAP) as the southern gas transport route into Europe at a meeting today with Kjetil Tungland, TAP’s Managing Director, and Michael Hoffmann, External Affairs Director.

Kjeitl Tungland stated: “The Greek government confirmed to us today its strong interest  in ensuring that the TAP project is implemented, a position that we welcome. This is just a further step in the good and productive relationship TAP has had with the Greek government and the country’s authorities throughout the project’s development.

We are confident that the enduring partnership that has developed among all parties involved will continue to grow and provide the best possible solution for the completion of the Southern Corridor, which will benefit both Europe and Greece.”

About TAP 

The Trans Adriatic Pipeline (TAP) is a natural gas pipeline project. The pipeline will transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into western Europe. The project is aimed at enhancing security of supply as well as diversification of gas supplies for the European markets. TAP will open a new so-called Southern Gas Corridor to Europe and establish a new market outlet for natural gas from the Caspian Sea. 

The project is designed to expand transportation capacity from 10 to 20 bcm per year. TAP also envisages physical reverse flow of up to 80 per cent and the option to develop natural gas storage facilities in Albania to further ensure security of supply during any operational interruption of gas deliveries. 

TAP will bring €1.5bn of foreign direct investment and 2,000 jobs in Greece and serves a strong message of investor confidence in Greece.

TAP’s shareholders are EGL of Switzerland (42.5%), Norway’s Statoil (42.5%) and E.ON Ruhrgas of Germany (15%).

For further information, please contact George Hatzidakis George.hatzidakis@tap-ag.com

More about TAP: 
 
www.trans-adriatic-pipeline.com
http://twitter.com/tap_pipeline
 
Statement of the Ministry of Foreign Affairs (in Greek):
http://www.mfa.gr/epikairotita/eidiseis-anakoinoseis/sunantese-upeks-abramopoulou-me-antiprosopeia-tes-etaireias-trans-adriatic-pipeline-2.html