Construction of the Trans Adriatic Pipeline (TAP) continues at an accelerated pace, Greek Prime Minister Alexis Tsipras said in Athens on June 19, during a joint press conference with Turkish Prime Minister Binali Yıldırım.
Tsipras believes that TAP is one of the important energy projects in the region.
Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.
The project is currently in its construction phase, which started in 2016.
Total construction costs are expected to be about €4.5 billion.
Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3,500-kilometre long gas value chain stretching from the Caspian Sea to Europe.
About 878 kilometres in length, TAP's highest elevation will be 1,800 metres in the mountains of Albania while its lowest depth offshore will be 820 metres beneath the Adriatic Sea.
TANAP is a natural gas pipeline from Azerbaijan through Georgia and Turkey to Europe. It will be a central part of the Southern Gas Corridor, which will connect the giant Shah Deniz gas field in Azerbaijan to Europe through the South Caucasus Pipeline (SCP).
TAP's shareholders, which major energy companies such as SOCAR with 20 percent of stake, Snam with 20 percent, BP with 20 percent, Fluxys with 19 percent, Enagás with 16 percent and Axpo with 5 percent, are experienced enough in delivering complex international projects.