The ratification of the IGA follows the finalization of the Host Government Agreement (HGA), initialled in Tirana by TAP’s Managing Director, Kjetil Tungland, and Albania’s Minister of Economy, Trade and Energy, Edmond Haxhinasto, on January 18, 2013. As the project progresses, the HGA sets out the parameters of engagement between TAP and the Albanian Government, such as permitting process, implementation of technical and safety standards or land easement procedure.
Kjetil Tungland, TAP’s Managing Director, said: “We are pleased to receive this strong endorsement and are confident that our excellent collaboration will continue. The ratification of the IGA represents a key element in TAP’s Decision Support Package submission to Shah Deniz at the end of this month ensuring a compelling offer.”
Michael Hoffmann, External Affairs Director for TAP said: “The IGA ratification by the Albanian Parliament demonstrates once again TAP’s increasingly advanced status. It is important to underline that the Parliament gave its unanimous approval for the IGA. This is extremely rare and once again illustrates the very strong commitment of the Albanian authorities in making TAP a reality.”
In the context of cooperation with the Albanian Government, TAP has committed to assist-ing with the creation of a national Gas Master Plan (GMP). This will see the development of a gas transportation grid that may supply to businesses and, at a later stage, Albanian families. The GMP will enable the Albanian Government to meet its strategic goal of be-coming an energy hub in the region. Finally, the TAP project will contribute to the Albanian economy through a significant investment of approximately Euros 1bn, and will serve to create jobs in the country as the project develops.
TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to the most attractive markets in Europe.
The pipeline will interconnect with the Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border, cross Greece and Albania and the Adriatic Sea coming ashore in Southern Italy. TAP’s routing can facilitate enabling gas supply to several South Eastern European countries including Bulgaria, Albania, Bosnia and Herzegovina, Montenegro, Croatia and others. TAP’s landfall in Italy, the third largest gas market in Europe, provides multiple opportunities for further transport of Caspian natural gas to some of the largest European markets such as Germany, France, the UK, Switzerland and Austria.
Designed to expand the capacity from 10 to 20 bcm per year, TAP will open up the so-called Southern Gas Corridor, which will enhance Europe's energy security by contributing to the diversification of the region's gas supplies.
TAP’s shareholders are Axpo of Switzerland (42.5%), Norway’s Statoil (42.5%) and E.ON Ruhrgas of Germany (15%).
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