TAP com­pletes project fi­nanc­ing

Kathimerini English - - Focus -

LON­DON (Reuters) – The Trans-Adri­atic Pipe­line (TAP) has com­pleted its 3.9-bil­lion-euro-project fi­nanc­ing, paving the way for con­struc­tion to be com­pleted for start-up in 2020, its man­ag­ing di­rec­tor said yes­ter­day. TAP, the fi­nal leg of a $40 bil­lion project called the South­ern Gas Cor­ri­dor to trans­port gas from Cen­tral Asia to Western Europe, is a cor­ner­stone of the Euro­pean Union’s en­ergy se­cu­rity pol­icy to wean the bloc off Rus­sian gas sup­plies. With the first de­liv­ery of gas to Europe ex­pected in 2020, TAP will be the first non-Rus­sian gas pipe­line to sup­ply Europe since the Medgaz link, which started de­liv­er­ies from Al­ge­ria to Spain in 2011. TAP will trans­port up to 10 bil­lion cu­bic me­ters (bcm) of nat­u­ral gas per year from the Shah Deniz II field in Azer­bai­jan through Greece to Italy.

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