On 22 November 2012, the Trans Adriatic Pipeline AG (TAP) and the Trans Anatolian Gas Pipeline Company B.V. (TANAP) signed a Memorandum of Understanding and Cooperation. The agreement establishes a technical and commercial cooperation between the two parties and formalises a mutual framework and forum for coordinated activities and exchanges of information.
As a result, TAP and TANAP have established a joint working group and both parties have held regular meetings in Ankara, since the signing of the MoU, in order to further evaluate areas of potential cooperation between the parties. This includes working together to align overall project schedules, understand the technical requirements of each project, identify and manage technical interfaces and liaise with host governments in relation to regulatory matters.
Kjetil Tungland Managing Director for TAP said: “I am delighted that TAP and TANAP have joined forces and are closely working together. It is vital that all links in the value chain across the Southern Gas Corridor cooperate with one another in order to ensure that Shah Deniz II gas is able to flow to Europe. Our cooperation with TANAP is another milestone to further progress the realisation of the Southern Gas Corridor.”
About the Trans Adriatic Pipeline (TAP)
The Trans Adriatic Pipeline (TAP) is a natural gas pipeline project that 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 and beyond.
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.
TAP's transportation solution will be approximately 800 kilometres in length.Transport will begin near the Greek-Turkish border, cross Albania and the Adriatic Sea, and connect with the Italian natural gas distribution system near San Foca in Italy.
TAP's shareholders are Axpo of Switzerland (42.5%), Norway's Statoil (42.5%) and E.ON Ruhrgas of Germany (15%).