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TAP receives Independent Natural Gas System (INGS) license from Greek Regulatory Authority (RAE)

24 September 2014

 

Athens, Greece.  Greece’s Regulatory Authority for Energy (RAE) has granted Trans Adriatic Pipeline AG (TAP) a license for an Independent Natural Gas System (INGS). The license, granted by the authority on the 5 September 2014, refers to the Greek section of the project. The term of the license is 50 years.

The INGS license gives TAP the necessary approval for activities related to the construction of the pipeline such as installation of the pipeline, compressor and metering stations, block valve stations and other equipment.
 
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) near 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 (16%), Total (10%), E.ON (9%) and Axpo (5%).

Media enquiries: media@tap-ag.com

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