Greek Parliament ratifies Intergovernmental Agreement between Greece, Italy and Albania on the Trans Adriatic Pipeline

Greek Parliament ratifies Intergovernmental Agreement between Greece, Italy and Albania on the Trans Adriatic Pipeline

The Greek Parliament, ratified the Intergovernmental Agreement (IGA) between Albania, Italy and Greece on the construction and operation of the Trans Adriatic Pipeline (TAP) project, rhe press office announced.

The IGA between the three countries, which was signed in Athens on February 13, 2013, confirms the host countries’ support for TAP and their cooperation for the project’s timely implementation.

The ratification of the IGA by the Greek Parliament continues TAP’s progress in the country, with the project now working on successfully completing the Host Government Agreement (HGA) with Greece. The HGA outlines the parameters of engagement between TAP and the Greek Government, such as permitting process, implementation of technical and safety standards and the land easement procedure.

At €1. 5bn, TAP would constitute one of the largest current Foreign Direct Investments (FDI) in Greece and is expected to create 2, 000 directly related new jobs and a further 10, 000 peripheral new jobs in the Greek market.
TAP is competing to deliver gas from Azerbaijan into Europe, with a final selection of the gas transportation route expected June 2013 by the Shah Deniz consortium in Azerbaijan. TAP is the only pipeline option that will go through Greece.

Kjetil Tungland, TAP’s Managing Director, said: “We thank the Greek Parliament for this swift ratification process. We maintain our confidence that the excellent collaboration with Greece will continue and that together we will provide Shah Deniz with the most compelling offer. ”

Michael Hoffmann, External Affairs Director for TAP, said: “This marks an important step towards the final decision by Shah Deniz and underlines the progress and advanced status of the TAP project. The ratification by the Greek Parliament emphasizes the common benefits TAP will bring and highlights our common values. ”

Rikard Scoufias, TAP Country Manager for Greece, said: “The good relationship TAP has developed over the years with Greece continues with Parliament’s ratification and reiterates the fact that together Greece and TAP can and will produce the best bid for Shah Deniz. We look forward to our continued cooperation and thank the Parliament for its support”.