Works on TAP to start in April

Works on TAP to start in April

Athens, November 12, 2015/Independent Balkan News Agency

By Spiros Sideris

Ttime is counting down for the start of construction works for the TAP gas pipeline along the greek section, with a length of 543 km.

The land portions of the TAP will have a total length of about 765 km, of which 543 km in Greece, 211 km in Albania, and only 8 km in Italy.

The management company predicts that about 15 sites will operate simultaneously along the entire route of the pipeline, with 150-200 employees each.

In budgetary terms, the project is valued at about EUR 1.5 bn, will be financed with private funds from a six energy giants, creating the preconditions for Greece to be upgraded regarding its role as an energy hub. That’s because it will become the entrance to Europe for the gas from the Caspian Sea and Azerbaijan.

In the construction of TAP participate and provide the financing of the project the energy companies BP (20% share), the Azeri Socar (20%), Norwegian Statoil (20%), the Belgian Fluxys (19%), Spanish Enagás (16% ) and Swiss Axpo (5%).

At the same time the TAP progresses, there are no news for the fate of the other competing pipeline from Russia, the Turkish Stream, especially after the problems and the unwillingness of the Turkish side.

Since the negotiations between Turkey and Russia have been frozen, the discussion on the Turkish part of the pipeline has already been downgraded in terms of size and the quantities to be transported, is transferred for early 2016.

For some time now the European Commission has described the future of the pipeline as uncertain, though Moscow continues to be in wait in order to clarify the intentions of Ankara.

Concerning future energy plans of Russia, secure information from the Russian side said that the priority of China’s market is and not another pipeline in Europe.