A package of €3.9 billion has been secured for the completion of the final segment of the Southern Gas Corridor, the Trans Adriatic Pipeline (TAP).
The 878-kilometer pipeline starts at the Greek-Turkish border, crosses Albania and, after passing under the Adriatic Sea, terminates in southern Italy. It constitutes the final segment of the Southern Gas Corridor, a supply route to transport gas from the Caspian Sea to Europe.
TAP is a priority project of the European Union and the Energy Community, an international organization that brings together the EU and its neighbors to create an integrated pan-European energy market. Financing is provided by a group of 17 commercial banks, alongside the European Bank for Reconstruction and Development (EBRD), the European Investment Bank and export credit agencies in France, Germany and Italy.
With an initial annual capacity of 10 billion cubic meters – equivalent to the energy consumption of approximately seven million households in Europe – the pipeline will make a significant contribution to the diversification of Europe’s energy supply. The first delivery of gas is expected by 2020.
The Southern Gas Corridor includes gas infrastructure investments into a 3,500-kilometre network of pipelines crossing six countries. Key components are the Shah Deniz offshore gas field in Azerbaijan, the Southern Caucasus Pipeline in Azerbaijan and Georgia, TANAP in Turkey and TAP.