Trans Adriatic Pipeline (TAP) project costs €4.5 billion, Managing Director Ian Bradshaw said.
“The project is implemented on schedule. Earlier, we could not say exact number due to objective and subjective reasons, but now, we can say that TAP costs €4.5 billion”, he said.
He reminded that Shahdeniz 2 gas will be sold since late 2018: “Europe will receive its first gas in 2020”.
The managing director added that TAP attaches strategic importance for Europe.
“Construction of compressor stations will begin in the first quarter of 2017”, he said.
Bradshaw also noted that all problems on funding of the TAP will be resolved.
Trans Adriatic Pipeline is a pipeline project to transport natural gas, starting from Greece–Turkey border at Kipoi, Evros, where it will be connected with the Trans-Anatolian gas pipeline. It will cross Greece, Albania and the Adriatic Sea and come ashore in Italy near San Foca. The total length of the pipeline will be 878 kilometres. The initial capacity of the pipeline will be about 10 billion cubic metres of natural gas per year, with the option to expand the capacity up to 20 billion cubic metres.
TAP shareholders: SOCAR (20%), BP (20%), "Snam" (20%), "Fluxys" (19%), "Enagas" (16%) and "Axpo" (5%).