Fluxys signals strong interest to join Trans Adriatic Pipeline

Fluxys signals strong interest to join Trans Adriatic Pipeline

Baar, Switzerland, June 17, 2013

European gas infrastructure group Fluxys is considering taking a shareholding in the Trans Adriatic Pipeline (TAP) project. Discussions between Fluxys’ and TAP’s shareholders began in 2012. These negotiations are proceeding with a view to include Fluxys as a shareholder in TAP shortly after the Shah Deniz Consortium has decided on the preferred European route to bring gas from Azerbaijan.

Fluxys is a major gas transit operator in Europe with activities in six countries and counts among the few operators combining gas transmission, gas storage and terminalling of liquefied natural gas (LNG). Fluxys and TAP are confident they will be able to finalise the necessary arrangements for Fluxys to join TAP by August 2013 subject to TAP being selected by Shah Deniz as preferred European pipeline route.  This once again signals confidence in TAP by a major player in the European energy industry.

Commenting Kjetil Tungland, TAP’s Managing Director, said: “I am delighted that Fluxys is looking to join the TAP project. Their involvement in TAP fully underlines that TAP is a European Project and truly demonstrates that TAP can transport Shah Deniz gas to Western markets beyond Italy. This in turn, further contributes to Europe’s security of supply.”

Walter Peeraer, Managing Director Fluxys, said: “Becoming a partner in TAP would be a further step in our strategy of bridging the markets to foster security of supply and market liquidity in Europe. Through our partnership with Snam and our project to enable south-to-north flows from Italy to Switzerland and Germany, Azeri gas from the TAP pipeline could be moved straight into the North Western European markets.” /ibna/