(MENAFN) Greece, Italy and Albania inked a deal to establish a Trans Adriatic Pipeline (TAP) to convey natural gas to Western Europe, reported Xinhua News.
The project, which would help develop Greece's economic growth, is forecasted to draw investments of around USD2 billion, and would create thousands of job opportunities in Greece, where jobless rate hit 26 percent.
Each year, the 800-km-long pipeline will convey between 10-20 billion cubic meters of gas from Azerbaijan to Italy and Western Europe via Greece and Albania.
According to Greek officials, all countries involved in the project will benefit from the construction of the pipeline, which will facilitate the establishment of future projects.
Greece's prime minister, Antonis Samaras, noted that the agreement represents a significant geopolitic value for Europe as a whole.
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