(MENAFN- Trend News Agency ) Baku, Azerbaijan, Sept.26
By Leman Zeynalova – Trend:
The Trans-Adriatic Pipeline (TAP) is strategic for Italy and Europe, because it contributes to security of supply, said TAP Managing Director Luca Schieppati.
He made the remarks during the Italian Energy Summit.
Schieppati noted that TAP is the gas pipeline connecting Italy with the natural gas fields of the Caspian Sea, starting from Azerbaijan, Italian media reported.
TAP also makes an important contribution to security of supply and guarantees a more reliable, safe and flexible gas market with better raw material prices, he added.
TAP is a part of the Southern Gas Corridor, which is one of the priority energy projects for the European Union. The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.
The pipeline will connect to the Trans Anatolian Natural Gas Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.
TAP will be 878 kilometers in length (Greece 550 kilometers, Albania 215 kilometers, Adriatic Sea 105 kilometers, and Italy 8 kilometers).
TAP's shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
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