Managing Director: TAP is most advanced of two potential projects on supplying Shah Deniz II gas to Europe

Azerbaijan, Baku, June 29 / Trend A.Badalova/ Trans Adriatic Pipeline is the most advanced of the two potential projects on transporting Azerbaijani gas to Europe, especially in terms of financing and permitting, TAP Managing Director Kjetil Tungland said in an official statement. "We believe that its clear economic, commercial, technical and strategic advantages make TAP the strongest contender in this competition and the best option for both Europe and Azerbaijan," Tungland said. TAP is one of the Southern Gas Corridor projects, designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into Western Europe. Gas to be produced during the second phase of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for TAP. In February, the Shah Deniz Consortium announced that TAP was chosen as the priority route for export of the Azerbaijani gas to Italy. TAP's shareholders are EGL of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent). The total length of TAP is approximately 800 kilometres. The initial pipeline capacity of TAP will be 10 billion cubic metres per year, expandable to 20 billion cubic metres per year. This week, the consortium of Azerbaijani Shah Deniz gas field development selected Nabucco West as the single pipeline option for the potential export of Shah Deniz Stage 2 gas to Central Europe. According to Tungland, the Shah Deniz consortium's decision-making process has taken another important step forward with the choice of a potential central European route. "This now clears the way for the ultimate decision between TAP and Nabucco West," he said. He also added that TAP looks forward to continuing cooperation with the Shah Deniz consortium over the coming months. Do you have any feedback? Contact our journalist at agency@trend.az