Prime Minister of Italy Giuseppe Conte gave his final consent to the Trans Adriatic Pipeline (TAP) project. After the project implementation Italy will receive Caspian natural gas through Georgia, Turkey, Greece and Albania.
The new pipeline consists of three key sections, of which two ones, South gas corridor (Azerbaijan, Georgia) and Trans Anatolian Pipeline (Turkey) sections have been finished. TANAP inauguration ceremony was held on June 12. The pipeline construction project value made up 8.5 billion USD.
Full length of the pipeline will be 3.5 thousand kilometres and its annual transportation capacity will be 20 billion cubic meters.
The TAP shareholders are as follows: BP (20%), SOCAR (20%); SNAM (20%); FLUXYS (19%); ENAGAS (16%), AXPO (5%);
Natural gas supply will be carried out by Shah Deniz consortium. Total value of the new pipeline construction project exceeds 25 billion USD.
Thanks to this project, natural has supply to Georgia will also increase.
As a result of loading the Trans Anatolian Pipeline total volumes of optional and additional gas will increase by 1.2billiobn cubic meters a year, and in the perspective – up to 1.6billionb cubic meters.