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TAP closes Market Test

01 December 2014

 

Baar, Switzerland. Trans Adriatic Pipeline AG (TAP) announces the closure of the binding Booking Phase that had been launched in March this year and, thereby, the completion of the Market Test.

As a result of this Market Test, additional capacity will be provided at TAP’s entry point at the Turkey-Greece border and additional exit points will become available along the route.

Lutz Landwehr, Commercial and Finance Director at TAP said: “We are pleased with the interest for capacity expressed in this Market Test. The results show that the Trans Adriatic Pipeline can accommodate demand for capacity in full compliance with applicable regulation.”

 

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 (19%), Enagás (16%) and Axpo (5%).

Media enquiries: media@tap-ag.com

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