(MENAFN- Trend News Agency ) Baku, Azerbaijan, August 15
By Leman Zeynalova – Trend:
The continuation of the project for construction of the Trans Adriatic Pipeline (TAP), which envisages delivery of Azerbaijani gas to Europe, has had a positive effect on Albania's construction sector, according to the data released by the Bank of Albania.
At the same time, the growth of foreign direct investment inflows to the country paves way for the development of this sector, said the Bank of Albania.
'The construction sector in Albania maintained a positive growth during the second quarter of 2017 and the trend is expected to continue into the second half of 2017,' said the data. 'The increase of the approved number of construction permits and the positive contribution of public investments signal a continuation of the positive trend of Albania's construction sector in 2017.'
TAP is a part of the Southern Gas Corridor which is one of the priority energy projects for the EU.
TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field to the EU countries.
The pipeline will be connected to the Trans-Anatolian Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.
TAP's shareholders are: BP (20 percent), State Oil Company of Azerbaijan (20 percent), Snam (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).
TAP will be 878 kilometers in length (Greece 550 km, Albania 215 km, Adriatic Sea 105 km, and Italy 8 km). Its highest point will be 1,800 meters in Albania's mountains, while its lowest point will be 820 meters beneath the sea.
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