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Prolonged Validity Period for TAP’s Exemption

29 April 2015

 

Baar, Switzerland. The regulatory authorities in TAP’s host countries – Greece, Italy and Albania – have released a joint opinion, prolonging the validity period of TAP’s exemption from certain provisions of the EU Gas Directive.

TAP’s exemption has been updated in line with the planned commencement date of Shah Deniz Phase 2 gas exports to Europe, now expected in 2020. This enables TAP to be fully aligned with upstream developments in the Southern Gas Corridor value chain.

The updated joint opinion follows the approval of the European Commission [link] as well as a positive opinion by the Energy Community Secretariat [link]. The joint opinion has been implemented in TAP’s host countries via national decisions.

In 2013, TAP secured an exemption from certain provisions of the EU Gas Directive [2009/73/EC], including a third party access exemption for the initial capacity of 10 billion cubic meters annually (bcm/a) for gas volumes from Azerbaijan supplied under the relevant Shah Deniz gas sales agreements over a period of 25 years.

Lutz Landwehr, TAP’s Commercial Director, said: “TAP continues to comply with all the conditions set out in the exemption decision, as well as European regulation to which our project is subject. According to the requirements for major new pieces of gas infrastructure securing exemption decisions, TAP will enhance competition of gas supply as well as boost security of supply in several European markets.”

 

ENDS

About the Trans Adriatic Pipeline (TAP)

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 870 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

TAP’s routing can facilitate gas supply to several South Eastern European countries, including Bulgaria, Albania, Bosnia and Herzegovina, Montenegro, Croatia and others. TAP’s landfall in Italy 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.

TAP will promote the economic development and job creation along the pipeline route; it will be a major source of foreign direct investment and it is not dependent on grants or subsidies. With first gas sales to Georgia and Turkey targeted for late 2018, first deliveries to Europe will follow approximately a year later.

TAP’s shareholding is comprised of BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).

Media enquiries: media@tap-ag.com

More about TAP: www.tap-ag.com | www.twitter.com/tap_pipeline