Country manager: TAP to turn Italy into one of main energy hubs
Baku. The Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe, will turn Italy into one of main energy hubs, said Michele Mario Elia, TAP's country manager for Italy
“TAP is considered a strategic project, because it will ensure more competitive prices for gas supplies to Europe. Furthermore, it will strengthen energy independence by ensuring greater security for member states,” he told Italian media.
Elia noted that the initial capacity of the pipeline will be 10 billion cubic meters of gas per year, coming from the Caspian Sea, which will meet energy needs of 7 million families.
Thanks to TAP, Italy will become one of the main energy hubs of Europe, as well as the gateway for Azerbaijani gas supplies to the European market, he added.
With the implementation of TAP project, the country will get benefits in terms of economic development, energy sustainability as a result of reduction of carbon dioxide, said Elia.
He pointed out that the Italian state has always supported the implementation of TAP project as a tool to diversify its energy supply.
TAP will fulfill general safety principles throughout the entire construction and operation phase, said the country manager, .
The pipeline project is based on high standards and best practices recognized nationally and internationally, he added.
TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU). The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.
Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.
The project is currently in its construction phase, which started in 2016.
Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3,500-kilometer long gas value chain stretching from the Caspian Sea to Europe.
TAP shareholders include BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).