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TAP reconfirms Shah Deniz II as the initial gas source for the pipeline

15 shtator 2010

In a joint statement, shareholders EGL, Statoil and E.ON Ruhrgas said: "The TAP pipeline is designed to cater for the volumes of gas from Shah Deniz phase two that will be exported beyond Turkey into Europe. TAP shareholders consider Caspian gas to be the initial source of supply to fill TAP’s initial capacity of 10 bcm per year. The pipeline will not transport any Iranian gas under the current political circumstances."

The 520-km pipeline via Greece and Albania to southern Italy offers the shortest route to the European market and is the most cost-effective gas transportation solution in the Southern Gas Corridor.

TAP’s schedule is fully aligned with the development of Azerbaijan’s Shah Deniz gas field. Currently, the project is at the front-end engineering design stage, refining the pipeline route and preparing for the final investment decision and construction.

"The TAP pipeline will be ready when Shah Deniz phase two starts production." Kjetil Tungland, Managing Director of the Trans Adriatic Pipeline project said.

About TAP - The 520km long pipeline will transport gas via Greece and Albania and across the Adriatic Sea to Italy’s southern Puglia region and further to western Europe. The project is aimed at enhancing security of supply as well as diversification of gas supplies for the European markets. TAP will open a new so-called Southern Gas Corridor to Europe and market outlet for natural gas from the Caspian Sea. The project is designed to expand transportation capacity from 10 to 20 bcm per year depending on throughput. The TAP project also envisages the development of natural gas storage facilities in Albania to further ensure security of supply during operational interruptions of gas deliveries.

The Trans Adriatic Pipeline is supported by the EU as a TEN-E project (Trans European Networks – Energy), in conformance with its energy policy and has been categorized by the EU Commission as an EU Interconnector. The development of TAP will continue to comply with all EU gas transport policies. Furthermore, the project enjoys political support and is named as part of the Italy-Albania IGA (intergovernmental agreement).

The project has established registered branches in all three host countries and is currently in front-end engineering. A feasibility study was concluded in 2006 with basic engineering completed in 2007 and the offshore survey finished in early 2009. TAP is committed to adhering to the highest environmental and social standards and has conducted extensive re-routing studies and consultations in Albania and southern Italy during 2009.

Media Release