The MoU welcomes interconnection of TAP and IAP, which would allow Caspian gas to reach the South Eastern European region, thereby increasing reliability and diversity of energy supply. It highlights the strategic nature of TAP and IAP, representing the wider interests not only of the SEE region, but also of the Energy Community and the European Union, in particular those objectives related to the energy security and diversification of energy transportation routes, providers and gas resources.
The countries agreed to support and facilitate the development, financing, construction and operation of both TAP and IAP. They also established an IAP/TAP Cooperation and Development Committee.
Kjetil Tungland, Managing Director for TAP, said: “This MoU outlines the importance of facilitating diversified gas deliveries to the Western Balkans and South East European region. Indeed, TAP can connect with planned pipelines such as the Interconnector Greece Bulgaria Pipeline (IGB), the West Balkan Ring and the Ionian Adriatic Pipeline (IAP), meaning that countries such as Bulgaria, Albania, Croatia, Bosnia and Herzegovina, Montenegro, Slovenia, Hungary, Serbia and FYROM can all benefit from Shah Deniz gas”.
Michael Hoffmann, External Affairs Director for TAP, said “The fact that there is a widespread political support from these countries to receive Caspian gas further reinforces the TAP project. Access to this region is an attractive business proposition to the Shah Deniz Consortium, as TAP will bring new supplies to untapped markets with high energy demand.”